SWA advises Panoramic Power on its sale to Centrica for $60m
SWA advised Panoramic Power, an Israeli device developer for energy management solutions, on its sale to Centrica plc (LSE: CAN), a British multinational utility company, for $60 million.
Panoramic Power will become a part of Centrica’s US energy services unit Direct Energy. Panoramic Power was founded in 2009 by chairman Dr. David Almagor and COO/CTO Adi Shamir. Investors include Marker LLC, Greylock Partners, Israel Cleantech Ventures Funds, Clal Energy Ltd., and Qualcomm Ventures. The company has offices in New York and Kfar Saba. SWA advised on the US corporate, tax, employee benefits and employment related matters of the deal and worked closely with Panoramic Power Israeli counsel, Yigal Arnon.