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Smart Energy Boom Paves Way For Surge In 'electech' M&a

by posted 1year ago 347 views
The boom in renewable power and smart energy technologies has ignited a multi-billion dollar M&A frenzy that is set to drive the market for ‘electech’ in the coming years. Energy companies have been slowly acquiring and merging with firms that specialise in ‘big data’ technology and artificial intelligence (AI). That movement appears to have reached a tipping point after the number of deals doubled in the last year, and deal values ballooned. The average deal in the second quarter hit $3.5bn (£2.6bn), from an average of $500m a year ago, according to a report from BDO.