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Mitsubishi Electric to Acquire US Energy Management Services Provider PCI Energy

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Japan-based Mitsubishi Electric has entered into a definitive agreement to acquire US-based energy management services provider PCI Energy Solutions for $1.4 billion, the company said on Thursday.

The transaction will make PCI a wholly owned subsidiary of Mitsubishi Electric upon completion, which is expected later this year pending customary regulatory approvals and closing conditions, it stated.

PCI specializes in mission-critical energy management and optimization platforms widely utilized across North America by utilities, public power entities, independent power producers, and wholesale market participants.

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