CPE News Brief (7.20.2022) – On December 21, 2021, GE Digital, the industrial software division of General Electric Company (NYSE: GE), announced the agreement to acquire Opus One Solutions Energy Corporation. The transaction closed on December 31, 2021.
Financial terms were not disclosed.
According to GE’s financial reports, GE paid US $1,523 million for acquisitions in Q4 2021. On December 21, 2021, GE’s Healthcare business acquired BK Medical for US $1,455 million. The pruchase price for Opus One was approximately US $68 million if Opus One was the only other acquisition in Q4.
Toronto based Opus One Solutions is a software company that helps electric utilities optimize energy planning, operations, and market management.
Founded by CEO Jushua Wong, Opus One has raised undisclosed amount of venture funding from Energy Impact Partners, ENGIE New Ventures, Renewal Funds, MacKinnon, Bennett & Company Inc., Export Development Canada (EDC), and others.
Opus One did not disclose how much it raised. The total amount raised is believed to be between US $20-50 million.
photo credit: Opus One Solutions