Internet Software and Services
Company Overview of OPOWER, Inc.
Opower, Inc. provides cloud-based software to the utility industry in the United States. Its software analyzes energy data and presents personalized insights to consumers in order to motivate reductions in energy consumption. The company offers energy efficiency solutions comprising home energy reports under the utility brand; smart meter-enabled emails that offer weekly email reports for utility customers with advanced metering infrastructure; and marketplace suite, a utility-branded product recommendation engine, which enables the customer to search and sort products based on personalized estimates, as well as replaces paper-based rebate redemption with end-to-end digital processing. In ad...
1515 North Courthouse Road
Arlington, VA 22201
Founded in 2007
Key Executives for OPOWER, Inc.
Founder and Chief Executive Officer
Director of Operations & Investor Relations
Executive Vice President and General Manager of World Wide Sales
Compensation as of Fiscal Year 2016.
OPOWER, Inc. Key Developments
Opower, Inc. Files Form 15
Jun 27 16
Opower, Inc. announced that it has filed Form 15 with the Securities and Exchange Commission to voluntarily deregister its common stock of par value $0.000005 per share under the Securities Exchange Act of 1934, as amended.
OPOWER, Inc. Announces Board Changes
Jun 17 16
OPOWER, Inc. entered into an Agreement and Plan of Merger by and among OC Acquisition LLC, a Delaware limited liability company (Parent), Olympus II Acquisition Corporation, a Delaware corporation and a wholly owned subsidiary of Parent, and, solely for certain limited purposes, Oracle Corporation, a Delaware corporation and the ultimate parent entity of Parent and Purchaser. In connection with the Merger, each of Daniel Yates, Alex Laskey, Mark McLaughlin, Dipchand Nishar, Gene Riechers, Marcus Ryu and Jon Sakoda resigned from his respective position as a member of the Board of Directors, and any committee thereof, of the Company, effective at the effective time of the Merger on June 14, 2016. Following the Merger and pursuant to the terms of the Merger Agreement, at the effective time of the Merger on June 14, 2016, the size of the Board of Directors of the company was reduced to one member and Brian S. Higgins was appointed as the sole member of the Board of Directors of the company. Following the Merger and pursuant to the terms of the Merger Agreement, at the effective time of the Merger on June 14, 2016, the officers of Purchaser immediately prior to the effective time of the Merger became the officers of the company following the effective time, with Dorian Daley appointed as President of the company and Gregory Hilbrich appointed as Treasurer of the company.
NYSE Files Notification Of Delisting Of Opower, Inc.’s Common Stock From NYSE
Jun 17 16
As previously disclosed in the Current Report on Form 8-K filed with the Securities and Exchange Commission (SEC) by Opower, Inc. on May 2, 2016, the company entered into an Agreement and Plan of Merger, dated May 1, 2016, by and among OC Acquisition LLC (Parent), Olympus II Acquisition Corporation (Purchaser), and, solely for certain limited purposes, Oracle Corporation. Pursuant to the Merger Agreement, Purchaser commenced a cash tender offer to purchase all of the issued and outstanding shares of the company’s common stock, par value $0.000005 per share, for a purchase price of $10.30 per share, net to the holders thereof, in cash, without interest thereon and subject to any required tax withholding, upon the terms and subject to the conditions set out in the Offer to Purchase dated May 16, 2016 and in the related Letter of Transmittal. On June 14, 2016, pursuant to the terms of the Merger Agreement and in accordance with Section 251(h) of the Delaware General Corporation Law, Purchaser was merged with and into the company, with the company being the surviving corporation. Upon completion of the Merger, the company became a subsidiary of Oracle. In connection with the closing of the Merger, the company notified the New York Stock Exchange (NYSE) on June 14, 2016 that the Merger was consummated, and trading of the common stock of the company on the NYSE has been suspended. Accordingly, the NYSE has filed a notification of delisting of the company’s common stock from the NYSE and deregistration of the company’s common stock under Section 12(b) of the Securities Exchange Act of 1934, as amended on Form 25 with the SEC. The company intends to file a certification on Form 15 with the SEC to cause the company’s reporting obligations under Sections 13 and 15(d) of the Exchange Act to be suspended.
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