RIL to acquire 79.4 per cent stake in US-based SenseHawk for USD32 million

Reliance Industries Limited (RIL) has entered into definitive agreements with SenseHawk Inc. (SenseHawk) for acquiring 79.4 per cent stake of SenseHawk, through primary infusion and secondary purchase, for a total consideration of USD 32 million.

SenseHawk is an early-stage California-based developer of software based management tools for the solar energy generation industry. SenseHawk helps accelerate solar projects from planning to production by helping companies streamline processes and use automation. It provides a seamless solar digital platform to manage the end-to-end solar asset lifecycle. The transaction is subject to certain regulatory and other customary closing conditions and is expected to complete before end 2022.


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