Reliance to acquire 79.4% stake in California-based SenseHawk

6 Sep 2022 , 09:46 AM

Reliance Industries has entered into definitive agreements with SenseHawk Inc. (SenseHawk) for acquiring 79.4% stake of SenseHawk, through primary infusion and secondary purchase, for a total consideration of USD 32million. Founded in 2018, SenseHawk is an early-stage California-based developer of softwarebased management tools for the solar energy generation industry. SenseHawk helps accelerate solar projects from planning to production by helping companies streamline processes and use automation. It provides a seamless solar digital platform to manage the end-to-end solar asset lifecycle. The turnover of SenseHawk for FY 2022, FY 2021 and FY 2020 was US$ 2,326,369, US$ 1,165,926, and US$ 1,292,063 respectively. Sensehawk, along with the other investments of the Company in New Energy, will be synergistic and create unique solutions with higher value to customers. Powered by Capital Market – Live News