Hyderabad, India, Feb 24: Blue Cloud Softech Solutions Ltd. (“BCSSL” or “the Company”) , a BSE-listed diversified technology and infrastructure solutions company, announced that its Board of Directors has approved a definitive agreement framework to acquire 100% of Global Impex Inc. (“GIX”) from ConnectM Technology Solutions, Inc. (“ConnectM”; OTC: CNTM), a U.S. based modern energy economy company.
The board reviewed the proposal and discussed its merits. The acquisition aims to develop a scalable, technology-driven “Blue Energy” platform under BCSSL, offering clean energy solutions for data centers, industrial sectors, mobility, electric vehicles, energy storage, software, and data services to support energy transition needs in India and globally.
Transaction Overview
Global Impex Inc houses ConnectM’s India-focused operating assets and platforms, including electric mobility solutions, rooftop solar and clean energy businesses (CER and CER Rooftop), distributed microgrids, Geo Impex infrastructure assets, and related operating companies. Global Impex Inc also holds exclusive India licenses for select proprietary technologies developed by ConnectM and its wholly owned subsidiary, Keen Labs.
The acquisition will be implemented through an all-equity share swap, subject to completion of due diligence, execution of definitive agreements, and receipt of applicable corporate, regulatory, and shareholder approvals as required under applicable laws.
Strategic Rationale
The proposed acquisition is aligned with BCSSL’s long-term portfolio strategy and SPV-based value creation model, as outlined in the Company’s Investor Memorandum (January 2026). Key strategic objectives include:
- Consolidation of operating clean energy, mobility, and distributed infrastructure assets
- under the dedicated “Blue Energy” vertical
- Integration of advanced technologies in virtual power plants (VPPs), battery systems, smart mobility, and AI-driven energy management from ConnectM and Keen Labs
- Leveraging BCSSL’s government and enterprise relationships, including PSU’s and
- telecom sector clients to accelerate deployment.
- BCSSL can leverage the intangible and tangible assets in their upcoming AI enabled data center projects. Also, both intangible and tangible assets shall be useful in its business expansion and company net worth.
- Creation of a scalable, asset-backed, and IP-led energy platform capable of attracting long-term institutional capital
For ConnectM, the transaction enables structural simplification, enhanced focus on U.S. and international markets, and continued participation in India’s growth through equity ownership and technology licensing partnerships.
Statements from the Leadership:
Mr. Bhaskar Panigrahi, Chairman & CEO, ConnectM Technology Solutions, Inc., said: “This strategic partnership with Blue Cloud Softech marks a pivotal step in ConnectM’s evolution as a global modern energy platform. By transitioning our India operations and technology licenses to BCSSL, we are de-risking cross-border execution while retaining meaningful participation in India’s energy transition. This transaction enables us to sharpen our focus on high-growth U.S. opportunities and strengthens long-term value creation for our shareholders.”
Mr. Janaki Yarlagadda, Chairman, Blue Cloud Softech Solutions Ltd., said: “The acquisition of Global Impex from ConnectM represents a strategically important milestone in BCSSL’s growth journey. GIX brings high-quality clean energy and mobility assets and valuable technology capabilities that significantly strengthen our Blue Energy platform. Integrated with our digital infrastructure and healthcare verticals, this positions BCSSL to build a diversified, technology-led franchise.”
Future Growth Platform
Post-completion, BCSSL intends to consolidate the acquired assets and related technologies into a focused Blue Energy vertical and, where appropriate, special purpose vehicles (SPVs). This structure is expected to support:
• Targeted capital raising from infrastructure and climate-tech investors
• Expansion of EV, microgrid, storage, and VPP deployments across India
Potential strategic partnerships and international capital market initiatives over the medium to long term
Next Steps
BCSSL and ConnectM will undertake comprehensive financial, legal, tax, technical, and regulatory due diligence, finalize transaction documentation, and seek all required approvals from shareholders, stock exchanges, and regulatory authorities including SEBI, RBI, and all applicable foreign exchange regulations. The Company will make further disclosures in accordance with applicable regulations as and when material milestones are achieved.