April 2, 2010 (FinancialWire) — CDSS Wind Down, Inc. (OTCBB: CWDW) said it has entered into a definitive agreement to acquire Green Energy Management Services, Inc., a privately held energy manager and provider of proprietary energy technologies for municipalities, building owners and large-scale power consumers.

The proposed transaction is scheduled to close during the second quarter of 2010 after CDSS files an information statement and receives shareholder approval. GEM’s shareholders have already approved the transaction, according to CDSS. Upon completion of the reverse merger, shareholders of CDSS will own 20% of the combined company, with GEM’s shareholders owning 80%. In conjunction with the transaction, CDSS will affect a one-for-three reverse split of its stock.

The surviving company, GEM, will provide energy-saving technologies to public and private entities under long-term, fixed-price contracts. GEM provides and installs, on a turnkey basis, energy-saving technology for its customers, resulting in a targeted reduction of 50-70% on their monthly electric costs.

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