GridBeyond to acquire energy business from Veritone.

GridBeyond, a provider of wireless energy management and control systems for retail, commercial and industrial users, agreed to acquire energy business from Veritone, a future-proof AI platform that comprehends and transforms multiple forms of data to create actionable intelligence. Financial terms were not disclosed. “The acquisition of Veritone Energy is another strategic step we are taking to expand our reach and capabilities in the management and optimisation of distributed energy assets, and we are delighted to welcome their team to GridBeyond. By combining the capabilities of both organizations, we offer customers a comprehensive suite of energy management and energy trading solutions that leverage the power of AI and machine learning. The acquisition will also enable GridBeyond to expand its reach in North America and strengthen its position as a global leader in optimisation and management of distributed energy assets,” Michael Phelan, GridBeyond CEO and Co-Founder.