Client Deal Spotlight: Vestas Enters Into Agreement to Acquire Utopus Insights for Approx. $100 million

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Stoel Rives congratulates its client Vestas Wind Systems A/S on entering into an agreement to purchase Utopus Insights, Inc., an energy analytics provider. The acquisition price is approximately $100 million on a debt and cash free basis, and the deal is expected to close within the first quarter of 2018.

Utopus Insights, which is based in New York state and was spun out of IBM’s Smarter Energy Research Institute, has extensive experience in data science, software, utility operations, meteorology, and renewable and distributed energy, and currently offers five powerful software tools for the renewable energy industry. Vestas and Utopus Insights, which will continue as a stand-alone entity under Vestas Service and continue to develop new products, will also sign joint development agreements supporting advanced predictive and prescriptive analytics products.

The Stoel Rives deal team was led by William Clydesdale and included attorneys Todd Friedman, Erica Valli, Wally Van Valkenburg, Rob Teel, Karen O’Connor, Kevin Pearson, Michael Such, Bethany Bacci, Kassim Ferris, Jennifer Johnson, Chris Demet, Jennifer Mersing; paralegal Sherry Stratton; docketing specialist William Wright; and others.

Clydesdale said, “The deal is a great example of buy-side energy M&A work that we are doing for international clients and an incredible team effort, as they all are.”

For more information, read the Vestas press release here.

Key Contributors

Bethany A. Bacci
William Clydesdale
Kassim M. Ferris
Todd L. Friedman
Jennifer Mersing
Karen L. O'Connor
Kevin T. Pearson
Sherry L. Stratton
Michael L. Such
Robert R. Teel
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