Acorn Energy has sold its subsidiary CoaLogix for $101m to funds managed by Energy Capital Partners.

The company owned about 65% of CoaLogix on a fully diluted basis and the rest was owned by EnerTech Capital and CoaLogix management.

Acorn’s earning from the sale of its subsidiary was $61.9m.

UBS Investment Bank and Merriman Capital acted as financial advisers for CoaLogix and Acorn respectively in this transaction.