On May 3rd, 2019, Tendril announced the agreement to acquire EnergySavvy in a strategic move to gain more market share in the competitive utility home energy management space. Tendril’s core offerings have been focused on residential customer engagement products and services, which provide personalized energy efficiency and demand side management products and programs. The acquisition of EnergySavvy brings advanced personalization capabilities to the Tendril Platform.
As legacy business and service models erode in the face of emerging technologies, particularly in the home IoT sector, businesses need to make bold decisions to embrace emerging technologies and enable new user experiences to compete for a greater share of the consumer market. Decision makers at consumer companies must embrace change and not be held hostage to either legacy technologies and business and service models or the challenges of meeting consumer demand in nascent, unproven markets.