WICHITA, Kan.--(BUSINESS WIRE)--Koch Technology and Optimization, LLC and Koch Minerals, LLC, both subsidiaries of Koch Industries, Inc., announced the acquisition of EFT Energy, a leading software as a service and solutions provider in the fields of industrial and manufacturing predictive analytics, process optimization, and industrial and commercial energy management.
EFT’s groundbreaking analytics platform and intuitive visual interface allow engineers to optimize industrial processes, detect root causes of unforeseen events, and identify sources of energy savings. With a drag-and-drop graphical user interface built on a powerful analytics engine, EFT’s software helps engineers and citizen data scientists rapidly make new insights into their systems and processes, without requiring advanced training in programming or statistics.
EFT’s cloud-based software platform imports, aggregates, and validates data from various sources, including Microsoft tools; relational databases; and real-time data from industrial machinery, sensors, control systems, and power-consumption monitors. Users create data models using EFT’s visual interface, and results can be monitored in realtime through a visual dashboard or returned to a facility’s process control system. Through machine learning each model becomes more intelligent over time.
“Koch Industries has utilized EFT solutions at numerous facilities across our diverse portfolio of industrial operations, both for energy-management and for predictive-analytics applications,” said Brent Youngers, the new president of EFT. “We are impressed by the dedication of EFT’s world-class team, the quality of results we get from EFT, and the ease with which we are able to leverage these insights.”
“When our team looked for a partner to help expand our business, we realized quickly that Koch was an ideal partner for us,” said Craig Ennis, EFT’s founder and chief technology officer. “Koch’s dedication to creating value through innovative technologies aligns perfectly with EFT’s vision of helping companies improve their industrial processes and optimize their energy consumption, and we are excited about growing this company together.” To support development and commercialization of innovative technology companies such as EFT, Koch Minerals, LLC has launched a new subsidiary, Koch Technology and Optimization, LLC, to focus resources in industrial technology markets.
EFT, with offices in New York City, NY, Dublin, Ireland, and Wichita, KS, provides predictive analytics, process optimization, and energy management solutions for over 100 clients in North America and Europe. EFT was founded by CTO Craig Ennis in Dublin, Ireland, in 1998 and commenced US operations in 2009. For more information about EFT’s analytics offerings, visit http://www.eftanalytics.com. For more information on EFT’s energy services, visit http://www.eft-energy.com.
Based in Wichita, Kan., Koch Industries, Inc. is one of the largest private companies in America with estimated annual revenues as high as $100 billion, according to Forbes. It owns a diverse group of companies involved in refining, chemicals, biofuels and ingredients; forest and consumer products; fertilizers; polymers and fibers; process and pollution control equipment and technologies; electronic components; commodity trading; minerals; energy; ranching; glass; and investments. Since 2003, Koch companies have invested about $80 billion in acquisitions and other capital expenditures. With a presence in more than 60 countries, Koch companies employ more than 100,000 people worldwide, with about 60,000 of those in the United States. From January 2009 to present, Koch companies have earned more than 1,000 awards for safety, environmental excellence, community stewardship, innovation, and customer service.
Baird served as transaction advisor to EFT. For more information, visit www.rwbaird.com.