Stem Inc (STEM)

[realfast95]

STEM: Stem to acquire Also Energy Holdings for $695 mln (17.92)
https://home.alsoenergy.com/

Under the terms of the agreement, Stem will acquire, on a cash-free debt-free basis, all the outstanding shares of Also Energy for an aggregate purchase price of $695 million, consisting of approximately 75 percent of the total consideration in cash and approximately 25 percent in Stem common stock.
The transaction will combine Stem's unique storage optimization capabilities with Also Energy's market-leading solar asset performance monitoring and control software to deliver a compelling one-stop-shop solution for renewable energy projects.
In addition, Stem will offer its smart energy storage solutions to Also Energy's existing front-of-meter and commercial & industrial customers, who generally have limited storage attachment to their solar assets today. Also Energy will gain earlier visibility into solar plus storage projects through Stem's extensive customer and partner network.
John Carrington, Chief Executive Officer of Stem, remarked, "Through this immediately accretive transaction, a combined Stem and Also Energy will bring the unique software, controls, and analytics capability to accelerate the energy transition to a renewable, decarbonized future. As the battery storage and solar industries continue to experience tremendous global growth, developers, asset owners, and utilities will increasingly look to our combined software capabilities to provide a unified platform for energy intelligence that improves project performance. The combined company will deliver an AI-driven software offering that we expect will simplify our customers' asset management, boost their project returns, and accelerate our own growth trajectory."