Vestas Dips Deeper into Analytics with Aquisition of Utpus Insights

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The acquisition allows Vestas to seize digital opportunities and expand its service offering.

Vestas has entered into an agreement for the acquisition of Utopus Insights, Inc., an energy analytics provider with 15 years of experience in solutions development, a suite of innovative digital products, over 30 patents, and a highly experienced team with data science expertise in analytics, power engineering, energy software development, and meteorology.  The acquisition price for Utopus Insights is approx. USD 100m (approx. EUR 80m) on a debt and cash free basis. The consideration will be paid in cash from readily available sources. For 2017, Utopus Insights is, on a stand-alone basis, expected to report consolidated revenues below USD 10m (approx. EUR 8m). Utopus... ... More: Official Press Release Vestas

Keywords:

Vestas, Utopus Insights, analytics, power engineering, software, development