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Otovo AS Class A ( (DE:89K) ) has provided an announcement.
Otovo ASA has completed the sale of its continental subscription assets to FORTE PV S.à r.l., managed by Swiss Life Asset Managers, for EUR 108 million. This transaction marks a significant milestone for Otovo, shifting its focus from investment to profitability by leveraging its unique infrastructure and scaling its continental subscription offering in partnership with SLAM. The deal is part of a broader company reset, which includes cost reductions and a new sales approach, positioning Otovo to capitalize on megatrends in the European home energy market.
More about Otovo AS Class A
Otovo is a marketplace focused on providing homeowners with easy access to solar panels and home batteries. The company leverages proprietary technology to analyze home potential and facilitate an automatic bidding process among local, high-quality energy installers to find the best price and installer for customers.
YTD Price Performance: 81.67%
Technical Sentiment Signal: Buy
Current Market Cap: €35.77M
See more data about 89K stock on TipRanks’ Stock Analysis page.