Deals
Schneider Invests in Uplight at $1.5 Billion Value
- Huck Capital, AES also participate in the latest investment
- Uplight plans to use funds for core business as well as M&A
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A group of investors led by Schneider Electric SE and Huck Capital has agreed to invest in closely held Uplight Inc. that will value the utility software company at about $1.5 billion.
Schneider and Huck said in a statement Wednesday they are partnering with existing investor AES Corp., and a group consisting of Philippe Laffont’s Coatue Management and Jeff Ubben’s Inclusive Capital Partners on the investment, confirming an earlier report by Bloomberg News. Rubicon Technology Partners, which formed Uplight with AES through the merger of six companies, will also remain a minority investor, according to the statement.