Mitsubishi Electric announced the acquisition of US-based PCI Energy Solutions for approximately ¥220 billion and plans to make it a wholly owned subsidiary. Backed by its strong share of the supply-and-demand management software market, the company plans to expand energy solutions business revenue to approximately ¥200 billion in fiscal 2030.
Mitsubishi Electric announced that it will acquire US-based PCI Energy Solutions for approximately $1.4 billion (about ¥220 billion) and make PCI a wholly owned subsidiary. The deal is expected to be the largest acquisition in Mitsubishi Electric's history.
PCI Energy Solutions specializes in forecasting electricity demand and developing power generation plans, and its software is used for approximately 60% of US power generation, according to the company. Mitsubishi Electric expects demand for supply-and-demand management software to grow and aims to expand its energy solutions business.
Mitsubishi Electric aims to roughly double revenue from the related business to ¥200 billion in fiscal 2030, positioning market growth in supply-and-demand management software as a driver of growth.