Announced
Financials
Tags
Pending
Private
energy storage systems
Electrical Components
Friendly
Single Bidder
United States
Cross Border
Majority
Acquisition
Synopsis
Sensata Technologies, an industrial technology company, agreed to acquire Spear Power Systems, a provider of lithium-ion based energy storage solutions for mission-critical and demanding end user applications. Financial terms were not disclosed. "Since our inception in 2013, Spear has had a goal of developing technically differentiated solutions in energy storage to address the growing demand in the niche e-mobility markets within which we operate. This deal will mean increased resources so that our incredible team can expand our development, commercial, and operational activities at a pace to meet the rapidly growing need for clean energy solutions. We are very excited to play a meaningful role in contributing towards Sensata’s electrification strategy," Jeff Kostos, Spear CEO.
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