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stem NEWS RELEASE Stem , Inc. to Acquire Also Energy Holdings , Inc. , a Global Leader in Solar Asset Management Software 12/16/2021 Acquisition to combine two software - focused renewable energy companies leading the energy transition Accretive transaction expected to accelerate Stem's growing , recurring software revenue and increase margins Underscores Stem's focus on expanding global reach and delivering high - margin software products to front - of meter and commercial & industrial customers Expands assets under management by 32.5 GW and international presence to 50+ countries SAN FRANCISCO & BOULDER , Co .-- ( BUSINESS WIRE ) -- Stem , Inc. ( " Stem " or " the Company " ) ( NYSE : STEM ) , a global leader in artificial intelligence ( Al ) -driven energy storage software and services , and Also Energy Holdings , Inc. ( " AlsoEnergy " ) , a global leader in solar asset management software , announced today that the companies have entered into a definitive agreement whereby Stem will acquire AlsoEnergy , in a stock and cash transaction . Under the terms of the agreement , Stem will acquire , on a cash - free debt - free basis , all the outstanding shares of AlsoEnergy for an aggregate purchase price of $ 695 million , consisting of approximately 75 percent of the total consideration in cash and approximately 25 percent in Stem common stock . Acquisition Overview The transaction will combine Stem's unique storage optimization capabilities with AlsoEnergy's market - leading solar asset performance monitoring and control software to deliver a compelling one - stop - shop solution for renewable energy projects . In addition , Stem will offer its smart energy storage solutions to AlsoEnergy's existing front - of meter and commercial & industrial customers , who generally have limited storage attachment to their solar assets today . AlsoEnergy will gain earlier visibility into solar plus storage projects through Stem's extensive customer and partner network . 1