Vestas decided to acquire energy analytics and digital solutions company Utopus Insights for a price of $100 million, the company said late Friday.
Danish wind energy company said that the consideration will be paid in cash from readily available sources.
Utopus Insights expected to report consolidated revenues approximately $10 million for 2017.
"As the global energy sector is transforming, Vestas is looking to offer customers digital solutions to deliver greater predictability, increased renewable energy production, more efficient operations, and better integration with energy grids," said Vestas and noted that this transformation means energy systems and power plant owners must improve forecasting accuracy for renewable production, optimise output from each individual generation asset and orchestrate a portfolio of resources across multiple sites and equipment types.
According to Vestas, the U.S. based Utopus Insights has its origins in IBM’s Smarter Energy Research Institute and has a rich pedigree in data science, software, utility operations, meteorology, and renewable and distributed energy.
Vestas and Utopus Insights will also sign joint development agreements that support advanced predictive and prescriptive analytics products. Utopus Insights will continue as a stand-alone entity under Vestas Service, including separate branding.
By Murat Temizer
Anadolu Agency
energy@aa.com.tr