Centrica acquires Panoramic Power in £39m deal

British Gas owner Centrica it has completed the acquisition of US energy business services group Panoramic Power for $60m (£39.5m).

The partnership agreement between Direct Energy, the FTSE 100’s US subsidiary, and Panoramic provides wireless sensors that allow business users to monitor their energy consumption.

In a statement released on Thursday, Centrica said Direct Energy will remain focused on business customers, although it was working on plans to introduce Panoramic’s products into other existing markets in the medium-term future.

Centrica shares were down 1.50% to 211.79p at 1053 GMT on Thursday.