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Gridbeyond Acquires Veritone’S Energy Business

Jul 10, 2023about 2 years ago

Acquiring Company

GridBeyond

Acquired Company

Veritone, Inc.

DublinDenverRenewable EnergyEnergy

Description

GridBeyond, a global smart energy company, has announced the acquisition of Veritone Inc Energy Business, a leader in AI software and services in North America, strengthening the business’ position in the US market.

Company Information

Company

GridBeyond

Location

Dublin, Dublin, Ireland

About

AI powered Energy Services Using Artificial Intelligence, machine learning, and advanced data modelling, GridBeyond® provides intelligent Energy As A Service to tackle the challenges businesses face as they move towards a Net Zero future. Asset-led approach Starting with optimisation of your existing assets and trading strategy, our AI-powered Virtual Power Plant ensures your assets are optimised in real time and in the right market to maximise cost savings and revenues. Using robotic trading, we transform your energy trading strategy into opportunity and boost your bottom line. Sub-second monitoring ensures predictive maintenance, reduces downtime and operating expenditure, and allows for carbon reporting. All without impacting your operations, providing you with savings and revenues for investments and supporting your sustainability goals and the decarbonisation of the wider energy sector. And to ensure you have a clear view of your energy activity, you will have access to the most advanced energy dashboard for analytics, reporting, benchmarking and predicting. For more information | https://gridbeyond.com/contact/ | service@gridbeyond.com | gridbeyond.com

FundzWatch™ Score

68
High M&A Activity

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed