Mukesh Ambani, the chairman of Reliance Industries, is in the process of buying businesses one by one. He’ll be adding another significant American corporation to his portfolio. RIL has agreed to pay $32 million for the US-based software company SenseHawk Inc. Mukesh Ambani will acquire a 79.4% stake in the company through this.
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Reliance Industries Acquire SenseHawk
A report from Business Today claims that Mukesh Ambani is advancing the promotion of his solar energy ambitions. Reliance Industries Limited said in a statement on Tuesday that it had agreements worth $ 32 million (about Rs 255 crore) in place to buy the majority of the stock in the American business SenseHawk Inc.
Reliance Industries (RIL Share) stock price increased as a result of this transaction. The price of Reliance’s shares at the time of writing the news was Rs 2,598, up more than 1%.
How does Senshawk work?
Senshawk began operations in 2018. An organization based in California develops solar energy management systems based on software. By streamlining the process, Sensehawk is working to speed up the generation of solar energy from planning to solar energy firms. As part of this business, solar assets are managed digitally throughout their lifecycle.
Regarding this transaction, Mukesh Ambani, Chairman and CEO of Reliance Industries, remarked, “We welcome SenseHawk and its innovative crew to our Reliance family.” RIL is dedicated to transforming the green energy industry. In describing his vision, he claimed that by the year 2030, his business will have the ability to produce or will have produced at least 100 GW of renewable electricity that can be turned into carbon-free green hydrogen.
This deal will be of great benefit
Further, according to Mukesh Ambani, with Senshawk’s assistance, we will lower costs, boost output, and enhance performance for solar projects around the world. He remarked that it is a very exciting technological platform, and I am confident that Senshawk will expand greatly with the assistance of Reliance Industries. Regulatory papers anticipate the finalization of the transaction by the end of 2022.
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