ConnectM Acquires MHz Invensys to Enhance Smart Metering Solutions
Deal News | Jan 27, 2025 | Globenewswire
ConnectM Technology Solutions, Inc., a leader in the electrification economy, has announced its acquisition of MHz Invensys, a developer of wireless communication products. This all-stock transaction aims to boost ConnectM's capabilities in delivering wireless communication solutions, particularly in the Advanced Metering Infrastructure (AMI) vertical. AMI allows bi-directional communication between smart meters and utility companies, enhancing the efficiency and accuracy of energy monitoring. MHz Invensys, known for its technological leadership in energy metering protocols, will enable ConnectM to expand into adjacent markets like solar grid monitoring, IoT, and renewables. The acquisition is expected to generate an additional $15 million in revenue from the AMI vertical by 2027. The global AMI market is projected to reach $47.5 billion by 2030, providing significant growth opportunities for ConnectM. Kiran Kumar and Mahesh Oni, founders of MHz Invensys, will join ConnectM, continuing their contribution to the Smart Metering domain.
Sectors
- Wireless Communication
- Energy and Utilities
- Internet of Things (IoT)
Geography
- United States – ConnectM is based in Marlborough, Massachusetts, indicating the primary geographic focus of the company's operations and market impact.
Industry
- Wireless Communication – The acquisition enhances ConnectM's wireless communication solutions, crucial for the Advanced Metering Infrastructure (AMI) market.
- Energy and Utilities – The integration of AMI technology is fundamental to improving energy efficiency and monitoring, placing the acquisition within the energy and utilities sector.
- Internet of Things (IoT) – MHz Invensys's IoT and Industrial IoT solutions align with ConnectM's expansion into this growing market.
Financials
- $15,000,000 – Expected additional revenue from the AMI vertical by 2027 due to the acquisition.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| ConnectM Technology Solutions, Inc. | Acquirer | Company | A leader in the electrification economy, focusing on delivering efficient energy solutions. |
| MHz Invensys | Target Company | Company | Developer of high-performing wireless communication products, primarily in the energy sector. |
| Kiran Kumar | Founder, Employee | People | Co-founder of MHz Invensys, joining ConnectM post-acquisition. |
| Mahesh Oni | Founder, Employee | People | Co-founder of MHz Invensys, joining ConnectM post-acquisition. |
| Bhaskar Panigrahi | CEO and Chairman | People | CEO and Chairman of ConnectM, overseeing the strategic acquisition. |