Digital Power Capital acquires EDSA

  • March 20, 2008
  • News
SAN DIEGO, Calif. - March 20, 2008 - EDSA Micro announced that majority ownership of the company has been acquired by Digital Power Capital, an affiliate of Wexford Capital LLC. Digital Power Capital invests in technologies that optimize energy production, distribution, transmission, and storage.Digital Power Capital took a minority investment position in EDSA in 2005. Mark A. Ascolese joined the Company's Board of Directors in 2006 on behalf of Digital Power Capital and has served as an advisor to the company since that time. As a result of today's announcement, Mr. Ascolese will assume the role of Chairman and Chief Executive Officer of EDSA. He is recently retired from Eaton Corp., where he served as president of Eaton Electrical's PowerwareR business. Previously, Mr. Ascolese held a range of executive-level positions at General Electric Co., where he worked for 12 years. He is a graduate of the University of Louisville's School of Business, GE's Crotonville Executive Management Program, and the Duke University Management Program for Midsize Business.EDSA's present management team will remain largely intact: current Chairman and CEO, Ali Nasle, will remain with the Company in a senior advisory capacity, while Adib Nasle will remain with the Company in the newly-created role of Chief Strategy Officer. Other members of the current leadership team - in product development, training, consulting, sales, marketing, and other key areas - will continue in their present roles.Similarly, EDSA will continue in its traditional core competencies - software for power systems infrastructure design and simulation; software for power systems infrastructure diagnostics and maintenance; and power systems consulting services and training - with increased emphasis on helping customers achieve their energy management and environmental responsibility goals. Traditionally, EDSA users' sole priority was uptime, but today - with rising energy costs and the public demand for "green" facilities in their communities - the costs and environmental impact of powering their operations are equally pressing priorities for companies."Having been a member of EDSA's board, I am very energized about the Company's technology, personnel, and prospects for success," said Ascolese. "Under Mr. Nasle's leadership, EDSA has proven itself to be the industry's leading technology innovator in power systems software; my mission is to build the business infrastructure around that technology that will bring its benefits to the mission-critical industries that stand to benefit most."About EDSA Micro CorporationEDSA develops power analytics software solutions for the design, simulation, deployment, and preventative maintenance of complex electrical power systems. Founded in 1983, the Company's Paladin software products are used by thousands of commercial, industrial, governmental, and military customers worldwide, to protect more than $100 billion in customer assets.Headquartered in San Diego, Calif., the Company's worldwide operations include 40 sales, distribution, and support offices located throughout North America, South America, Europe, Asia, and Africa. About Digital Power CapitalDigital Power Capital (DPC) is an affiliate of Wexford Capital LLC, a Greenwich, CT based investment advisor that manages a series of affiliated private equity and hedge funds. DPC invests in the new technologies that arise from the convergence of power and the tools, materials and software of the digital age. Digital power technologies permit faster, smaller, and more efficient power generation, conversion, transmission, and storage in every aspect of the economy. DPC focuses on leading-edge energy and power conversion technologies. Learn More

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