Telkonet, a provider of in-building broadband access over existing electrical wiring, has entered into a Letter of Intent to acquire a developer of energy management systems. Its proprietary energy management controls eliminate wasted energy from heating and cooling unoccupied spaces. Telkonet plans to incorporate the Telkonet iWire System to network these energy management controls.

This system is designed to capture data from connected energy devices and move the data into a centralized database to provide real-time, continuous monitoring and analysis capabilities of power usage and energy costs. As a result, property managers can simply control the thermostat settings remotely, saving time and resources. In addition, they can monitor and analyze a wide variety of energy management data collected from one database.

Telkonet has also entered into a Letter of Intent to acquire a U.S. wireless hospitality company. The Telkonet iWire System provides an affordable way to deliver wireless Internet to properties that cannot afford or do not have CAT-5. Using Telkonet's system as the backbone, hotels can easily offer both wired and wireless broadband access, as well as other applications, such as VoIP and energy management. The contemplated acquisition would increase Telkonet's current hospitality base from over 300 hotels to over 1800 hotels.