Advantage IQ acquires Ecos

Spokane-based Advantage IQ Inc. has purchased a Portland company that helps businesses manage energy consumption.

Ecos Consulting Inc. becomes a wholly owned Advantage IQ subsidiary that will keep its name and remain in Portland.

Terms were not disclosed. An Advantage IQ release said the deal would be financed internally, with the expectation that Ecos operations would have a positive effect on 2009 earnings.

Ecos reported more than $17 million in revenues for the year that ended June 30.

Advantage IQ, an Avista Corp. subsidiary, manages consumption of electricity, water and other utilities, lease expenses, and bill payment for more than 500 clients. Ecos assists its customers with conservation and energy management.

Advantage IQ also announced the selection of Ed Schlect as the interim president and chief operating officer for Advantage IQ. Schlect, 48, has been vice president for corporate development.

Jeff Hart, who became COO when Advantage IQ purchased Cadence Networks in June 2008, will leave after helping integrate the two companies.

Stu Stiles, former president and chief executive officer, resigned in June to undertake missionary work.