Reliance Industries Company acquired a controlling stake of 79.4 percent of the American company SenseHawk Inc. through a primary injection and a secondary purchase for $32 million, the company reported in BSE submission
Founded in 2018, California-based SenseHawk is an early stage developer of software management tools for solar energy generation industry. SenseHawk helps accelerate solar projects from planning to production by helping companies optimize processes and use automation. It provides a seamless digital solar platform for end-to-end lifecycle management of solar assets BSE submission said.
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SenseHawk’s revenue for fiscal years 2022, 2021 and 2020 was US$2,326,369, US$1,165,926 and US$1,292,063 respectively, according to the statement Reliance Industries Company.
Sensehawk, together with the company’s other investments in New Energy, will be synergistic and create unique solutions with greater value for customers. Objects and effects of the foregoing acquisition explained in the press release on this topic dated September 5, 2022, already filed by the Company. The acquisition not subject to related party transactions and to any of the promoters/group/group of promoters of RIL companies have any interests in the aforementioned entities, the release added.
