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).
Centrica
121.45p
15:45 15/11/24
-0.25%
-0.30p
FTSE 100
8,060.61
15:45 15/11/24
n/a
n/a
FTSE 350
4,453.56
15:45 15/11/24
n/a
n/a
FTSE All-Share
4,411.85
15:45 15/11/24
n/a
n/a
Gas, Water & Multiutilities
6,050.22
15:44 15/11/24
0.21%
12.56
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.