STEM - Stem scoops up Also Energy Holdings for about $695 million in cash and stock

Founded in 2007, AlsoEnergy provides monitoring and financial management software solutions for renewable energy developers. Per the terms, Stem (NYSE:STEM) will acquire all the outstanding shares of AlsoEnergy for $695 million on a cash-free, debt-free basis, consisting of ~75% in cash and about 25% in Stem common stock. The addition expands assets under management by 32.5 GW and international presence to 50+ countries. The transaction will combine Stem's storage optimization capabilities with AlsoEnergy's solar asset performance monitoring and control software to deliver a one-stop-shop solution for renewable energy projects. John Carrington, CEO of Stem: "Through this immediately accretive transaction, a combined Stem and AlsoEnergy will bring the unique software, controls, and analytics capability to accelerate the energy transition to a renewable, decarbonized future. As the battery storage and solar industries continue to experience tremendous global growth, developers, asset owners, and utilities will increasingly look to our combined software capabilities to

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Stem scoops up Also Energy Holdings for about $695 million in cash and stock