Sensata Technologies to acquire Spear Power Systems.

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.