Illustration: Lindsey Bailey/Axios
Yes Energy, a Boulder, Colorado-based power-market data provider, acquired Fort Worth, Texas-based Live Power for an undisclosed amount, per PE Hub.
Why it matters: Consolidation is heating up for asset-light software-focused businesses in the climate sector.
Details: Yes Energy is backed by Accel-KKR following a financing round in April.
- Yes Energy worked with Live Power, a smaller power-market data provider, in large-scale utility partnerships for six years prior to the acquisition. Yes primarily serves financial institutions such as hedge funds and commodities traders.
- Live Power CEO Jack Farley will join Yes Energy's management team and Yes Energy has committed to investing in Live Power's existing set of grid-monitoring technology.
What they're saying: "The acquisition of Live Power to capture critical analytical information for our customers is the first of what we expect to be many such moves made possible with our new growth equity partner, Accel-KKR," Yes Energy CEO Michael McNair told PE Hub.