Mitsubishi Electric to Acquire PCI Energy Solutions

Tokyo, Aug. 20 (Jiji Press)--Mitsubishi Electric Corp. said Thursday that it will acquire PCI Energy Solutions, a U.S. provider of software for energy trading management, for 1.4 billion dollars.

The acquisition is aimed at promoting the Japanese company’s so-called smart energy services globally that optimize overall energy use by combining Mitsubishi Electric’s power control technologies and component expertise with PCI’s optimization technologies.

The largest acquisition ever for Mitsubishi Electric is expected to be completed this year subject to regulatory approval.

Through the acquisition, the company plans to double sales in its energy solutions business to 200 billion yen in fiscal 2030 from 100 billion yen estimated for fiscal 2026, which ends next March.

PCI, whose legal name is Power Costs Inc., provides services such as energy portfolio optimization, generation scheduling and load and demand forecasting. The company has more than 120 corporate customers, mainly operating in the U.S. electricity market.

[Copyright The Jiji Press, Ltd.]