In a significant move to diversify its technological footprint, Ace Software Exports Limited announced on February 15, 2026, that it has entered into a binding term sheet to acquire a 40% equity stake in two prominent UK-based energy technology firms.
The proposed acquisition targets MyUtilityGenius Limited (MUG) and MyUtilityGenius Commercial Limited (MUGC), both currently held by Westbury Solutions Limited.
This move marks a major milestone in Ace Software’s long-term strategy to expand into high-growth, data-driven international markets.
The transaction is structured as a strategic investment, with an aggregate enterprise value for both target companies capped at GBP 5,000,000 (approximately ₹54.7 Crores).
The consideration for the 40% fully diluted equity stake will be a combination of:
- Cash Consideration: Subscription to 80 newly issued shares in each target company.
- Share Swap: Acquisition of 352 shares in each company from Westbury Solutions Limited through the preferential allotment of Ace Software equity shares.
Ace Software will also gain substantive control rights, including board representation and reserved matter rights, ensuring a significant voice in the strategic direction of the UK entities.
Incorporated in 2019, MUG and MUGC are established players in the UK’s energy technology and consultancy sector. They provide advanced software platforms and API-enabled tools designed to optimize energy procurement and customer engagement for suppliers and brokers.
The financial performance of the target companies shows steady growth. For the 2025 financial year (ending June), the combined turnover reached approximately GBP 1,680,358 (approx. ₹19.77 Crores):
- MUG: GBP 554,332 (INR 6.52 Cr).
- MUGC: GBP 1,126,026 (INR 13.25 Cr).
According to the company’s disclosure, the acquisition is intended to diversify Ace Software’s business portfolio into the energy technology and sustainability ecosystem.
By participating in a developed overseas market, the company aims to leverage “technology-led energy services” to drive future growth and knowledge transfer.
The acquisition is expected to be completed within three months, subject to the execution of definitive Share Purchase & Subscription Agreements (SPSA) and Shareholders’ Agreements (SHA).
The deal remains subject to customary conditions, including due diligence and regulatory approvals from both SEBI and under the UK Companies Act 2006.
Ace Software has clarified that this is not a related party transaction, as neither the promoters nor the promoter group have any interest in the target companies.
Disclaimer: The information provided is for educational purposes only and does not constitute financial advice. We are not registered financial advisors. Please conduct your own research and consult a qualified advisor before making investment decisions. Any investment decisions you make based on this information are solely at your own risk.
