Construction and mining equipment manufacturer Caterpillar Inc. (NYSE: CAT) recently revealed that it has acquired an energy-as-a-service (EaaS) company, Tangent Energy Solutions. The financial terms of the deal have been kept under wraps. Following the news, shares of the company declined 3% on Thursday. The stock, however, pared its losses slightly to close at $216.18 in the extended trading session. The acquisition is expected to strengthen Caterpillar’s sustainable power capabilities with Tangent Energy’s proprietary turnkey software solutions. Tangent Energy monitors patterns from grid and client facilities, looks for opportunities in energy markets, and then unleashes resources to increase returns without disrupting normal business operations.
https://www.tipranks.com/news/caterpillar-paves-the-way-for-sustainable-future?utm_source=advfn.com&utm_medium=referral