World Energy of Worcester sold to EnerNOC

WORCESTER — EnerNOC Inc. announced today that it has completed its acquisition of Worcester-based World Energy Solutions.

EnerNOC, Inc., a provider of energy intelligence software based in Boston, had previously announced that it was buying World Energy, an energy management software and services firm that helps enterprises simplify the energy procurement process.

To date, World Energy, a publicly traded company with offices at 100 Front St. in Worcester, "has transacted more than $45 billion in electricity, natural gas, and environmental commodities for its customers, making it one of the top energy procurement specialists in the U.S. by revenue and volume," according to the news release announcing the sale.

EnerNOC acquired World Energy for a purchase price of $5.50 per share. EnerNOC assumed some of World Energy's debt, with the total value of the deal approximately $77 million in cash.

As a result of the merger, World Energy Solutions shares will cease to be traded on the NASDAQ Global Market.

EnerNOC spokeswoman Sarah McAuley said that EnerNOC has more than 20 offices nationwide, and plans to keep World Energy's Worcester office and its 100 employees in place.

"We are excited to add the 100-plus people in the Worcester office to our team, and we have tons of opportunities for growth," she said. "We believe the Worcester office gives us access to the western Massachusetts talent pool."