Schneider Electric: takes minority stake in Uplight
(CercleFinance.com) - Schneider Electric has announced that it has signed a memorandum of understanding to take a strategic minority stake in Uplight, which is presented as the technological partner of energy suppliers in transition towards a green energy ecosystem.
Uplight provides SaaS solutions to over 80 regulated utilities representing 110 million end users in North America. The transaction values the company at around 1.5 billion dollars, roughly 10 times its expected revenue in 2021.
Schneider Electric's strategic minority investment will lead to it holding around 30% of the capital. The transaction is expected to close in the coming months, subject to regulatory approvals and usual French social procedures.
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Uplight provides SaaS solutions to over 80 regulated utilities representing 110 million end users in North America. The transaction values the company at around 1.5 billion dollars, roughly 10 times its expected revenue in 2021.
Schneider Electric's strategic minority investment will lead to it holding around 30% of the capital. The transaction is expected to close in the coming months, subject to regulatory approvals and usual French social procedures.
Copyright (c) 2021 CercleFinance.com. All rights reserved.