Good Energy poised to be acquired by UAE-based Esyasoft in deal valuing business at nearly £100m

Wiltshire renewable provider Good Energy is poised to be acquired by a UAE-based company in a deal valuing the business at £99.4m.

In a stock market announcement on Monday, January 27, the Chippenham-based green energy provider said it had reached an agreement with the board of Esyasoft on the terms of a recommended cash offer.

The deal follows an unsolicited takeover approach by Dubai-headquartered Eysasoft, which describes itself as a smart grid technology company, last October. At the time, Good Energy said the offer price of 412p per share was "not a fair reflection" of the future growth opportunities of the business.

Under the terms of the acquisition deal, each Good Energy shareholders will receive 490p in cash per share.

The Esyasoft Group has operations in UAE, the UK, Europe and India. It was founded by Bipin Chandra in 2014 and has been a subsidiary of Sirius International Holding since 2