Telkonet Extends Global Hospitality Leadership in Intelligent Automation and Occupancy-Based
Energy Management Through Strategic Transaction
Telkonet and VDA Group S.p.A. Offer a Collective World-Wide Presence in Guestroom Management and Energy
WAUKESHA, WI – Telkonet, Inc. (OTCQB: TKOI), (“Telkonet”), a leader in intelligent automation solutions designed to optimize comfort,
operations, and energy efficiency for commercial markets, and VDA Group S.p.A. have announced entry into a strategic agreement
providing VDA Group with majority interest in Telkonet.
The transaction, slated to close during the fourth quarter between US-based Telkonet, operating within the occupancy-based energy
management industry, and the Italian VDA Group, with offices in the UK, UAE, and APAC and operating within the GRMS industry,
creates one of the most focused leaders for intelligent automation, energy management and IoT technology within the Hospitality market.
Through the strategic transaction, the combined group with more than 7,000 properties and 2,450,000 devices installed, a new global
provider of intelligent solutions is created with the know-how and resources capable of successfully managing opportunities offered by
the new era of smart automation. The synergies created through this transaction dramatically expand the group’s offerings through
increased cross-selling, customized products, and technologies, and expanded services, increasing effectiveness and agility toward the
transformation of the group’s target markets.
“This transaction represents an excellent opportunity for Telkonet to expand our efforts within our target markets and will enable us to
maximize efficiencies when competing in an increasingly attractive and challenging industry“, said Jason Tienor, Chief Executive Officer
of Telkonet Inc. “I’m fully convinced that, thanks to the immense talent and collaborative approach, our teams will be able to maximize
performance with increased energy and enthusiasm “.
“This transaction will allow both companies with recognized brands as well as passionate and effective teams to take advantage of one
another’s strengths. We both look at the challenges of tomorrow as an opportunity to be seized because they represent an opportunity to
grow and improve”, said Piercarlo Gramaglia, Chief Executive Officer of VDA. “We want to strengthen and extend our position in the field
of smart automation, because we believe that there is no future without a sustainable approach”.
Telkonet, Inc. (OTCQB: TKOI) provides innovative intelligent automation platforms at the forefront of the Internet of Things (IoT) space.
Helping commercial audiences better manage operational costs, the Company's EcoSmart intelligent automation platform is supported
by a full-suite of IoT-connected devices that provide in-depth energy usage information and analysis, allowing building operators to
reduce energy expenses. Vertical markets that benefit from EcoSmart products include hospitality, education, military, government,
healthcare, and multiple dwelling housing. Telkonet was founded in 1977 and is based in Waukesha, WI. For more information, visit
VDA Group is an Italian company founded in 1980 that develops and realizes advanced solutions for integrated Room Management and Interactive Television Systems, primarily in the world-wide hospitality market. Thanks to its 100% made-in- Italy technology and its in-house research and development, VDA has secured a leading position in the sector, positioning itself as a smart room solution provider. With over 250,000 active installations for the most prestigious hotels in the world, VDA leads the industry as a reference technological partner for tailor-made solutions that can improve the guest experience. VDA operates in 30 countries through branches in the UK, the UAE, Hong Kong and Thailand.
Telkonet Media Relations
VDA Group Media Relations
Communication & Marketing Manager
+39 346 7820693
FORWARD LOOKING STATEMENTS
Statements included in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve several risks and uncertainties such as competitive factors, technological development, market demand and the Company’s ability to obtain new contracts and accurately estimate net revenue due to variability in size, scope and duration of projects, and internal issues in the sponsoring client. Further information on potential factors that could affect the Company’s financial results, can be found in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017, as may be amended, or supplemented in the Company’s subsequently filed Quarterly Reports on Form 10-Q, and in its Reports on Form 8-K filed with the Securities and Exchange Commission.