On February 1, 2022, Tantalus Systems Holdings acquired DLC Systems, Inc. d/b/a Congruitive for a purchase price that includes US$8 million of closing consideration and up to US$5 million through a two-year earn-out. The acquisition of Congruitive will provide Tantalus Systems the opportunity to accelerate the digitization of the electric grid. This new prospect will help utilities prepare for the impact of EVs and DREs, and demonstrates Tantalus’ purpose-driven mission to create sustainable and operational products.
Tantalus is a smart grid technology company that transforms aging one-way grids into future-proofed multi-directional grids that improve the efficiency, reliability and sustainability of public power and electric cooperative utilities and the communities they serve. Tantalus’ solutions are purpose-built to allow utilities to restore power quickly after major disruptions, adapt to rapidly shifting consumer expectations and population shifts and innovate new solutions based on the adoption of distributed energy resources.
Congruitive has developed advanced technology solutions that give utilities and renewable energy producers the power to manage and control electricity at every point on the grid. Its open enterprise solutions serve as a gateway to acquire and distribute complex operational data across the grid, from substations and control centers to distributed energy resources and electric vehicles.
Osler, Hoskin & Harcourt LLP was Canadian counsel to Tantalus with a team consisting of Trevor Scott, Jason Comerford and Minji Park (Corporate).
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