Total SA (FP.FR) said Tuesday that it would acquire Greenflex, a French company specializing in energy efficiency.
Greenflex was founded in 2009 and is expecting revenues of more than 350 million euros ($418.1 million) for 2017, according to Total. The company helps clients manage energy consumption more efficiently via data intelligence and equipment management.
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"Climate challenges are integrated into Total's strategy," said Total's gas, renewables & power president, Philippe Sauquet. "This acquisition in energy efficiency services is fully aligned with this strategy."
The acquisition is expected to close in the fourth quarter, said the French oil-and-gas company.
The value of the deal was not disclosed.
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(END) Dow Jones Newswires
September 19, 2017 04:43 ET (08:43 GMT)