BayWa has acquired Toronto-based software outfit PowerHub, which has developed a cloud-based asset intelligence platform.
The acquisition extends BayWa’s scope of digital technology services in the field of renewable energy operations.
BayWa board member Matthias Taft said: “This is an important and strategic acquisition that recognises the transformational opportunities digitalisation represents for the rapidly evolving asset management services sector.
“BayWa is committed to being at the forefront of this transformation, and I’m pleased to welcome the PowerHub team who bring with them world-class digital expertise and a market leading software platform.”
PowerHub’s software provides asset intelligence to clients in 20 countries around the world.
Backed by BayWa PowerHub will continue operations under its existing management, team and brand as a largely independent business.