M&As this week: E.ON, Emera Utilities Holdings

20 October 2017 (Last Updated November 19th, 2018 14:35)

E.ON has acquired a minority stake in software services provider Cuculus.

E.ON has acquired a minority stake in software services provider Cuculus.

Both the companies involved in the transaction are based in Germany.

As part of the transaction, E.ON and Cuculus agreed to develop future intelligent solutions for its household customers.

E.ON will provide Cuculus ZONOS Internet of Things (IoT) platform to its customers. The firm expects to strengthen its digital and networked customer solutions market through the acquisition.

Cuculus is engaged in providing software services to meter data management, advanced meter management and smart home applications.

“E.ON has acquired a stake in start-up company b.ventus as part of agile, a programme initiated to support start-ups in energy sector.”

E.ON has acquired a stake in start-up company b.ventus as part of agile, a programme initiated to support start-ups in energy sector.

The start-up company develops windpower solutions and offers low-cost carboon dioxide (CO2) free energy solution for self-consumption of commercial and industrial customers.

The company has acquired a stake in the start-up through its supply subsidiaries Avacon and E.DIS.

Emera Utilities Holdings has reached an agreement to acquire the remaining 39.26% stake in ICD Utilities (ICDU), which holds a 50% stake in Grand Bahama Power Company (GBPC).

The ICDU shareholders will be entitled to receive BSD8.85 ($8.81) in cash per common share, 0.913 depositary receipts representing common shares in Emera, or a combination of both.