US=-headquartered ConnectM Technology Solutions has signed a Master Services Agreement (MSA) with Devlin Energy, a New England based renewable energy business. The agreement aims to expand ConnectM’s presence in the renewable energy and solar installation sector. The agreement is expected to contribute over $20 million in revenue to ConnectM within the next 12 months. Furthermore, ConnectM has the option to acquire Devlin Energy by September 30, 2025, at a valuation of $39 million, contingent on achieving specific revenue and net income milestones. These targets include a revenue of $21 million and net income of $3 million by the end of the first fiscal year, growing to $108 million in revenue and $22.5 million in net income by 2029. The MSA enhances ConnectM’s business portfolio by adding residential and commercial solar installation and battery storage capabilities.
ConnectM signs MSA to secure new PV and battery projects
ConnectM’s collaboration with Devlin Energy will optimize its offerings in both residential and commercial sectors, ensuring steady growth. (Image Credit/Source: Pixabay/Pexels)
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