ConnectM Completes Acquisition of Cambridge Energy Resources, Strengthening Foothold in India
ConnectM Technology Solutions (OTC: CNTM) has completed the acquisition of Cambridge Energy Resources (CER), an India-based Energy-Management-as-a-Service provider, for INR 120 million ($1.4M). The acquisition, which took three years to secure regulatory approval, provides ConnectM strategic entry into India's distributed energy and telecommunications sectors.
CER's fair value is assessed at INR 240 million ($2.8M). The company specializes in rooftop solar installations and energy management solutions for telecommunications infrastructure. ConnectM expects its India business revenue to grow to 15% of global revenue ($10M annualized) in the next twelve months, up from the current 5%. The acquisition aligns with India's goals of reaching 500 GW of non-fossil fuel power capacity by 2030, supported by a $384.5 billion investment in the power sector.
ConnectM Technology Solutions (OTC: CNTM) ha completato l'acquisizione di Cambridge Energy Resources (CER), un fornitore indiano di Energy-Management-as-a-Service, per INR 120 milioni (1,4 milioni di dollari). L'acquisizione, che ha richiesto tre anni per ottenere l'approvazione regolatoria, offre a ConnectM un ingresso strategico nei settori dell'energia distribuita e delle telecomunicazioni in India.
Il valore equo di CER è stimato in INR 240 milioni (2,8 milioni di dollari). L'azienda è specializzata in installazioni di pannelli solari su tetti e soluzioni di gestione energetica per infrastrutture di telecomunicazioni. ConnectM prevede che i ricavi della sua attività in India cresceranno fino a rappresentare il 15% del fatturato globale (10 milioni di dollari annualizzati) nei prossimi dodici mesi, rispetto all'attuale 5%. L'acquisizione è in linea con gli obiettivi dell'India di raggiungere 500 GW di capacità energetica non basata su combustibili fossili entro il 2030, sostenuti da un investimento di 384,5 miliardi di dollari nel settore energetico.
ConnectM Technology Solutions (OTC: CNTM) ha completado la adquisición de Cambridge Energy Resources (CER), un proveedor indio de Energy-Management-as-a-Service, por INR 120 millones (1,4 millones de dólares). La adquisición, que tardó tres años en obtener la aprobación regulatoria, brinda a ConnectM una entrada estratégica en los sectores de energía distribuida y telecomunicaciones en India.
El valor justo de CER se estima en INR 240 millones (2,8 millones de dólares). La compañía se especializa en instalaciones solares en techos y soluciones de gestión energética para infraestructuras de telecomunicaciones. ConnectM espera que los ingresos de su negocio en India crezcan hasta representar el 15% de los ingresos globales (10 millones de dólares anualizados) en los próximos doce meses, desde el 5% actual. La adquisición está alineada con los objetivos de India de alcanzar 500 GW de capacidad energética no fósil para 2030, respaldados por una inversión de 384,5 mil millones de dólares en el sector energético.
ConnectM Technology Solutions (OTC: CNTM)가 인도 기반의 에너지 관리 서비스 제공업체인 Cambridge Energy Resources (CER)를 1억 2천만 INR(140만 달러)에 인수 완료했습니다. 규제 승인에 3년이 걸린 이번 인수는 ConnectM이 인도의 분산 에너지 및 통신 분야에 전략적으로 진입할 수 있는 기회를 제공합니다.
CER의 공정 가치는 2억 4천만 INR(280만 달러)로 평가됩니다. 이 회사는 옥상 태양광 설치 및 통신 인프라용 에너지 관리 솔루션을 전문으로 합니다. ConnectM은 향후 12개월 내에 인도 사업 매출이 현재 5%에서 글로벌 매출의 15%(연간 1,000만 달러)로 성장할 것으로 기대하고 있습니다. 이번 인수는 2030년까지 500GW 비화석 연료 발전 용량 달성이라는 인도의 목표와 3,845억 달러 규모의 전력 부문 투자와도 부합합니다.
ConnectM Technology Solutions (OTC : CNTM) a finalisé l'acquisition de Cambridge Energy Resources (CER), un fournisseur indien de Energy-Management-as-a-Service, pour 120 millions INR (1,4 million de dollars). Cette acquisition, qui a nécessité trois ans pour obtenir l'approbation réglementaire, offre à ConnectM une entrée stratégique dans les secteurs de l'énergie distribuée et des télécommunications en Inde.
La juste valeur de CER est estimée à 240 millions INR (2,8 millions de dollars). L'entreprise est spécialisée dans les installations solaires sur toiture et les solutions de gestion énergétique pour les infrastructures de télécommunications. ConnectM prévoit que le chiffre d'affaires de ses activités en Inde atteindra 15 % du chiffre d'affaires mondial (10 millions de dollars annualisés) dans les douze prochains mois, contre 5 % actuellement. Cette acquisition s'inscrit dans les objectifs de l'Inde visant à atteindre 500 GW de capacité électrique non fossile d'ici 2030, soutenus par un investissement de 384,5 milliards de dollars dans le secteur de l'énergie.
ConnectM Technology Solutions (OTC: CNTM) hat die Übernahme von Cambridge Energy Resources (CER), einem in Indien ansässigen Anbieter von Energy-Management-as-a-Service, für 120 Millionen INR (1,4 Mio. USD) abgeschlossen. Die Übernahme, die drei Jahre für die behördliche Genehmigung benötigte, verschafft ConnectM einen strategischen Einstieg in die Bereiche verteilte Energie und Telekommunikation in Indien.
Der faire Wert von CER wird auf 240 Millionen INR (2,8 Mio. USD) geschätzt. Das Unternehmen ist auf Solaranlagen auf Dächern und Energiemanagementlösungen für Telekommunikationsinfrastrukturen spezialisiert. ConnectM erwartet, dass der Umsatz seines Indien-Geschäfts innerhalb der nächsten zwölf Monate auf 15 % des globalen Umsatzes (10 Mio. USD jährlich) wächst, gegenüber derzeit 5 %. Die Übernahme steht im Einklang mit Indiens Ziel, bis 2030 500 GW an nicht-fossilen Energieerzeugungskapazitäten zu erreichen, unterstützt durch eine Investition von 384,5 Milliarden USD im Energiesektor.
- Acquisition secured at INR 120M ($1.4M) for assets valued at INR 240M ($2.8M), representing significant value
- Expected revenue growth from India operations to reach $10M annually (15% of global revenue) from current 5%
- Strategic entry into India's high-growth clean energy and telecom markets
- Organic growth rate of over 100% per year in India business
- Expansion of service offerings into rooftop solar and telecom infrastructure energy management
- Three-year delay in obtaining regulatory approvals since winning the bid in 2021
Acquisition broadens ConnectM’s service offerings into India’s high-growth distributed energy and telecom sectors, advancing the Company’s global expansion strategy
MARLBOROUGH, Mass., May 15, 2025 (GLOBE NEWSWIRE) -- ConnectM Technology Solutions, Inc. (OTC: CNTM) (“ConnectM” or the “Company”), a high-growth technology company on the leading edge of the energy economy, today announced it has secured regulatory approval and completed the acquisition of Cambridge Energy Resources Ltd. (CER), an India-based Energy-Management-as-a-Service (EMaaS) provider.
The acquisition provides ConnectM with a strategic beachhead in India’s booming distributed energy and telecommunications sectors, solidifying the Company’s expansion into one of the world’s fastest-growing clean energy and digital infrastructure markets. ConnectM beat out four other bidders in a competitive process to acquire CER in 2021 for INR 120 million (
CER’s offerings span rooftop solar installations and energy management solutions for telecommunications infrastructure, supporting India’s 5G network deployment through clean energy initiatives. With this acquisition, ConnectM gains an established operating presence in India and the ability to immediately participate in two sectors central to India’s sustainability and digital growth. The Company will leverage CER’s local expertise to deploy its proprietary Home and Building Electrification (HBE) platform and Energy Intelligence Network (EIN) across new projects in the region. ConnectM’s full-stack, digital-first approach—proven in its U.S. operations—combined with CER’s on-ground capabilities is expected to drive growth in both distributed energy and telecom energy management solutions.
“This is a pivotal step in our international Home and Building Electrification (HBE) expansion,” said Bhaskar Panigrahi, Chairman and CEO of ConnectM. “By adding Cambridge Energy Resources to the ConnectM family, we secure a foothold in one of the world’s largest and highest-growth energy and telecommunications markets. We are now positioned to accelerate the deployment of our integrated electrification platform across India, furthering our mission to drive sustainable energy transformation on a global scale.”
The transaction carries significant strategic value for ConnectM and its stockholders. Our India business is growing organically at more than
This acquisition follows ConnectM’s March 26, 2025, announcement of its first HBE project in India and is a key part of the Company’s broader strategic expansion into India and international markets. ConnectM plans to continue pursuing opportunities that strengthen its presence in high-growth regions as it scales its HBE platform globally.
About ConnectM Technology Solutions, Inc.:
ConnectM is a constellation of companies powering the next generation of electrified equipment, mobility, and distributed energy—thus enabling a faster, smarter transition to a modern energy economy. The Company provides residential and light commercial service providers and original equipment manufacturers with a proprietary Energy Intelligence Network platform to accelerate the transition to all-electric heating, cooling, and transportation. Leveraging technology, data, artificial intelligence, and behavioral economics, ConnectM aims to lower energy costs and reduce carbon emissions globally.
For more information, please visit: https://www.connectm.com/
About Cambridge Energy Resources Ltd.:
Cambridge Energy Resources Ltd. (CER) is a privately held Energy-Management-as-a-Service provider based in India. Headquartered in New Delhi, CER delivers integrated clean energy solutions for enterprises and telecom operators, including the development and management of distributed solar projects and the deployment of energy-efficient power systems for 5G telecommunications infrastructure. By offering these services on an outcome-based model, CER helps clients reduce energy costs and carbon footprint while enhancing power reliability across their operations.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). We have based these forward-looking statements on our current expectations and projections about future events. All statements, other than statements of present or historical fact included in this press release, regarding our future financial performance and our strategy, expansion plans, future operations, future operating results, estimated revenues, losses, projected costs, prospects, plans and objectives of management are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "should," "could," "would," "expect," "plan," "anticipate," "intend," "believe," "estimate," "continue," "project" or the negative of such terms or other similar expressions. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Except as otherwise required by applicable law, we disclaim any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. We caution you that the forward-looking statements contained herein are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond our control. In addition, we caution you that the forward-looking statements regarding the Company contained in this press release are subject to the risks and uncertainties described in the "Cautionary Note Regarding Forward-Looking Statements" section of the Current Report on Form 8-K filed with the Securities and Exchange Commission on July 18, 2024. Such filing identifies and addresses other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and ConnectM is under no obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
Contact:
Investor Relations
Dave Gentry, CEO
RedChip Companies, Inc.
1-407-644-4256
CNTM@redchip.com
FAQ
How much did ConnectM (CNTM) pay for Cambridge Energy Resources acquisition?
What is the expected revenue impact of CER acquisition on ConnectM's India business?
What markets does the Cambridge Energy Resources acquisition give ConnectM access to?
How long did it take ConnectM to receive regulatory approval for the CER acquisition?
What is the current growth rate of ConnectM's India business?
