Ace Software Exports Limited has entered into a binding term sheet for the proposed acquisition of 40% equity stake in MyUtilityGenius Limited and MyUtilityGenius Commercial Ltd, companies ....
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Ace Software Exports has signed a binding term sheet to acquire a 40% equity stake in two UK-based energy technology companies — MyUtilityGenius Limited (MUG) and MyUtilityGenius Commercial Limited (MUGC) — for an aggregate enterprise value of up to GBP 5 million (roughly ₹58-60 crore). MUG had FY25 turnover of GBP 5.54 lakh (₹6.52 crore) while MUGC recorded GBP 11.26 lakh (₹13.25 crore), making MUGC the larger of the two targets. The deal involves a mix of cash (for newly issued shares) and a share swap with the seller Westbury Solutions Limited, and the company will get board representation and reserved matter rights despite holding only 40%. The move is a strategic diversification into UK energy-tech and utility comparison services, outside Ace Software's existing line of business, with completion expected within three months.
For shareholders, this is a meaningful diversification into a new sector (UK energy tech) funded partly through share dilution, which could weigh on the stock in the short term but offers long-term growth optionality. The deal is still subject to due diligence and definitive agreements, so execution risk remains before benefits materialise.