MyUtility Snaps up Utility.com Assets
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New York-based energy efficiency services firm MyUtility Inc., has snapped up some assets of defunct Utility.com, the idealab!-backed startup which was forced out of business by skyrocketing energy prices in California.
MyUtility, which manufactures interval meter data units and provides energy information services, said it had acquired the UtilityOne Web platform from Utility.com. An undisclosed number of IT employees would join MyUtility.
Financial terms of the acquisition were not released.
The ASP-based software powers online customer acquisition, customer service and data exchange for utilities, energy providers and marketers.
"The strategy behind UtilityOne was to build a platform that would provide Internet-based customer interaction for utilities on an ASP or licensed basis, allowing utilities to serve their customers online with a private label or co-branded site without having to invest many millions of dollars in internal software development costs," the company said.
"MyUtility plans to continue the development of the platform and increase marketing efforts to investor owned utilities, municipals, energy coops and service organizations."
Last month, the Emeryville, CA-based Utility.com shuttered operations and abandoned its ASP model, which sought to capitalize on low overheads to sell energy and utilities online. The company also pulled the plug on its B2C services which sold Internet access, digital subscriber line (DSL) and long distance telephone services.
Last November, Utility.com closed a third round of funding led by European gas company Gaz de France. Other investors include Southern Company Energy Marketing, Sempra Energy Trading, idealab!, idealab! Capital Partners, Trident Capital, PRIMEDIA Ventures, Kinetic Ventures, TL Ventures and Moore Capital Management.