Mitsubishi Electric announced that it would acquire U.S.-based PCI Energy Solutions for approximately ¥220 billion and make it a wholly owned subsidiary. The acquisition is expected to be the largest in Mitsubishi Electric's history.
Mitsubishi Electric will bring PCI Energy Solutions' software business for managing electricity supply and demand into its own operations through the acquisition. The purchase price will be approximately US$1.4 billion, or around ¥220 billion.
PCI Energy Solutions specializes in electricity demand forecasting and generation planning, and its software is reportedly used for approximately 60% of electricity generation in the United States.
The acquisition will be carried out by making PCI Energy Solutions a wholly owned subsidiary and is expected to be Mitsubishi Electric's largest acquisition to date.