Thermax to acquire 16% stake in Exactspace Technologies for Rs.10 crore

News: Thermax will acquire a 15.71% stake in Exactspace Technologies for Rs.10 crore. Exactspace is engaged in the business of developing artificial intelligence solutions for energy industry. The investment will result in the Company holding up to 15.17% of the share capital of Exactspace.

Views: Thermax will increase its share of service offerings as IoT solution partner. The solutions will cover predictive asset maintenance, process optimisation for customers, asset efficiency improvement in uptime and longevity, and analytics-driven failure analysis.

Impact: Positive