Stem to Acquire Solar Asset Management Software Provider Also Energy Holdings for USD 695m.

MANews-(C)2009-2021

California-based energy storage software and services Stem, Inc. (NYSE: STEM) has agreed to acquire Colorado-based solar asset management software provider Also Energy Holdings, Inc. in a stock and cash transaction for an aggregate purchase price USD 695m, the company said.

Under the terms of the agreement, Stem will acquire, on a cash-free debt-free basis, all the outstanding shares of AlsoEnergy in a transaction consisting of approximately 75% of the total consideration in cash and approximately 25% in Stem common stock.

The transaction will combine Stem's storage optimisation capabilities with AlsoEnergy's solar asset performance monitoring and control software to deliver a one-stop-shop solution for renewable energy projects.

Stem will offer its smart energy storage solutions to...

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