Esyasoft acquires UK energy tech firm Correla from NorthEdge
What's the deal? Esyasoft Technologies UKDealroom has a profile for this one. Try Dealroom →, a global energy transition technology group, has acquired CorrelaDealroom has a profile for this one. Try Dealroom →, a West Midlands-based energy technology and data services firm. The deal provides an exit for private equity firm NorthEdgeDealroom has a profile for this one. Try Dealroom →, which backed Correla in 2021. Terms were not disclosed.
What each does: Correla, led by chief executive Sian Jones, serves the UK energy sector. Esyasoft offers smart utilities, software, analytics and AI, energy-as-a-service, e-mobility, and battery storage across more than ten countries.
What's the endgame? Under NorthEdge, Correla grew its team, customer base, and profitability, and completed its first acquisition. It now joins Esyasoft, whose smart metering data platform serves more than 50 million consumer endpoints.
Why now? NorthEdge invested five years ago to back a vertically focused growth strategy across UK energy. Jones said the business is "now well placed for the next phase of its journey, alongside its new global technology partner, Esyasoft."
What they're saying: Jon Pickering, chief investment officer at NorthEdge, described Correla as "a regional business creating a meaningful national impact on the UK's decarbonisation journey." He added that the firm grew from "a standing start into one of the UK's leading energy technology firms."
The signal: The deal reflects growing interest from global technology groups in UK firms tied to decarbonisation and grid modernisation. For Esyasoft, which already has a UK presence, Correla adds depth in a market central to the energy transition.
Read more: insidermedia.com
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