ConnectM Completes Acquisition of Cambridge Energy Resources, Strengthening Foothold in India
MARLBOROUGH, Mass., May 15, 2025 (GLOBE NEWSWIRE) -- ConnectM Technology Solutions, Inc. (OTC: CNTM) ('ConnectM' or the 'Company'), a high-growth technology company on the leading edge of the energy economy, today announced it has secured regulatory approval and completed the acquisition of Cambridge Energy Resources Ltd. (CER), an India-based Energy-Management-as-a-Service (EMaaS) provider.
The acquisition provides ConnectM with a strategic beachhead in India's booming distributed energy and telecommunications sectors, solidifying the Company's expansion into one of the world's fastest-growing clean energy and digital infrastructure markets. ConnectM beat out four other bidders in a competitive process to acquire CER in 2021 for INR 120 million ($1.4M) which has fair value assessment at INR 240 million ($2.8M). Since winning the bid in 2021, it took an additional three years to obtain the necessary regulatory approvals.
CER's offerings span rooftop solar installations and energy management solutions for telecommunications infrastructure, supporting India's 5G network deployment through clean energy initiatives. With this acquisition, ConnectM gains an established operating presence in India and the ability to immediately participate in two sectors central to India's sustainability and digital growth. The Company will leverage CER's local expertise to deploy its proprietary Home and Building Electrification (HBE) platform and Energy Intelligence Network (EIN) across new projects in the region. ConnectM's full-stack, digital-first approach—proven in its U.S. operations—combined with CER's on-ground capabilities is expected to drive growth in both distributed energy and telecom energy management solutions.
'This is a pivotal step in our international Home and Building Electrification (HBE) expansion,' said Bhaskar Panigrahi, Chairman and CEO of ConnectM. 'By adding Cambridge Energy Resources to the ConnectM family, we secure a foothold in one of the world's largest and highest-growth energy and telecommunications markets. We are now positioned to accelerate the deployment of our integrated electrification platform across India, furthering our mission to drive sustainable energy transformation on a global scale.'
The transaction carries significant strategic value for ConnectM and its stockholders. Our India business is growing organically at more than 100% per year. With this CER acquisition, we expect our business from India to grow to 15% of our global revenue in next twelve months ($10M annualized) from 5% it is currently now. CER not only provides an operational base in India but also broadens ConnectM's service offerings into two high-growth domains that align with India's ambitious development goals. India has set a target of reaching 500 GW of non-fossil fuel power capacity by 2030, supported by an estimated $384.5 billion in power sector investments, alongside a nationwide 5G rollout. These initiatives are driving robust demand for distributed renewable energy solutions and energy-efficient telecom infrastructure—areas where ConnectM, through CER, is now well positioned to deliver innovative solutions.
This acquisition follows ConnectM's March 26, 2025, announcement of its first HBE project in India and is a key part of the Company's broader strategic expansion into India and international markets. ConnectM plans to continue pursuing opportunities that strengthen its presence in high-growth regions as it scales its HBE platform globally.
About ConnectM Technology Solutions, Inc.:
ConnectM is a constellation of companies powering the next generation of electrified equipment, mobility, and distributed energy—thus enabling a faster, smarter transition to a modern energy economy. The Company provides residential and light commercial service providers and original equipment manufacturers with a proprietary Energy Intelligence Network platform to accelerate the transition to all-electric heating, cooling, and transportation. Leveraging technology, data, artificial intelligence, and behavioral economics, ConnectM aims to lower energy costs and reduce carbon emissions globally.
For more information, please visit: https://www.connectm.com/
About Cambridge Energy Resources Ltd.:
Cambridge Energy Resources Ltd. (CER) is a privately held Energy-Management-as-a-Service provider based in India. Headquartered in New Delhi, CER delivers integrated clean energy solutions for enterprises and telecom operators, including the development and management of distributed solar projects and the deployment of energy-efficient power systems for 5G telecommunications infrastructure. By offering these services on an outcome-based model, CER helps clients reduce energy costs and carbon footprint while enhancing power reliability across their operations.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended (the 'Exchange Act'). We have based these forward-looking statements on our current expectations and projections about future events. All statements, other than statements of present or historical fact included in this press release, regarding our future financial performance and our strategy, expansion plans, future operations, future operating results, estimated revenues, losses, projected costs, prospects, plans and objectives of management are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as 'may,' 'should,' 'could,' 'would,' 'expect,' 'plan,' 'anticipate,' 'intend,' 'believe,' 'estimate,' 'continue,' 'project' or the negative of such terms or other similar expressions. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Except as otherwise required by applicable law, we disclaim any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. We caution you that the forward-looking statements contained herein are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond our control. In addition, we caution you that the forward-looking statements regarding the Company contained in this press release are subject to the risks and uncertainties described in the 'Cautionary Note Regarding Forward-Looking Statements' section of the Current Report on Form 8-K filed with the Securities and Exchange Commission on July 18, 2024. Such filing identifies and addresses other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and ConnectM is under no obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
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NEW DELHI, June 10, 2025 /PRNewswire/ -- The Global Clinical Workflow Management Software Market size is set to experience significant growth in the coming years. Valued at around USD 11,640 Million in 2024, it is expected to soar to nearly USD 40,243 Million by 2030, with a staggering annual growth rate of about 22.97%. This growth is attributed to several key factors. The rising number of chronic illnesses and an aging population are creating a pressing need for efficient healthcare management. Additionally, government efforts to enhance digital healthcare infrastructure are playing a crucial role. With a projected shortage of 12 million healthcare professionals by 2030, especially in rural areas, the demand for workflow management systems is more critical than ever. These solutions streamline patient care and reduce delays, addressing the gap left by a lack of skilled workers. 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Interested User Can Get a FREE PDF sample of the report here - Global Clinical Workflow Management Software Market Statistics: Market Value in 2024: USD 11,640 Million Projected Valuation by 2030: USD 40,243 Million Forecast Period CAGR: 22.97% (2025–2030) Base Year: 2024 | Historical Years: 2020–2023 Leading Segment "By Product Type": Data Integration Solutions Leading Region: North America Market Dynamic - 1.) Clinical Workflow Management Software Industry Key Driver: Rising Patient Volume & Chronic Diseases - The surge in chronic diseases like diabetes, cancer, and kidney disorders is significantly driving demand for clinical workflow management software. With China reporting approximately 139 million diabetes cases and the WHO noting 20 million new cancer cases in 2022, managing the increasing patient volume becomes challenging. This need for efficient, autonomous remote patient management solutions is a crucial factor fueling the global growth of clinical workflow management software. 2.) Clinical Workflow Management Software Market Opportunity Supportive Regulatory Frameworks - Governments worldwide are promoting remote patient care and telemedicine to enhance healthcare services. The U.S. enacted the Full Year Continuing Appropriations and Extensions Act (2025), while India introduced the Ayushman Bharat Digital Mission. China's Healthy China 2030 pilot program and Qatar's Telemedicine Regulation further signify this trend. These supportive regulatory measures foster significant growth opportunities for clinical workflow management software by expanding digital and telehealth services. 3.) 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Geographically, the Global Clinical Workflow Management Software Market expands across: North America South America Europe The Middle East & Africa Asia-Pacific - North America Holds the Largest Clinical Workflow Management Software Market Share of More Than 45% North America is the clear frontrunner in the Global Clinical Workflow Management Software Market, holding over 45% of the market share. The region is experiencing a growing elderly population, which has fueled the demand for remote and virtual patient care services, particularly as seniors are prone to chronic illnesses. In fact, approximately 78% of older adults in the U.S. suffer from long-term diseases. This trend pressures healthcare providers to increase remote monitoring capabilities, as many seniors prefer receiving care at home. The dominance of North America is further reinforced by the strong development of healthcare infrastructure and the widespread adoption of IT solutions in the healthcare sector. Government investments in healthcare advancements and technology are also contributing to this region's leadership in the global market, ensuring that North America remains at the forefront of clinical workflow management innovations. Schedule a Consultation with Our Experts! – Competitive Landscape: List of Emerging Clinical Workflow Management Software Companies Globally GE Healthcare Oracle Health Allscripts Healthcare Solutions Siemens Healthineers Koninklijke Philips N.V. McKesson Corporation NextGen Healthcare Athenahealth, Inc. eClinicalWorks Cisco Systems, Inc. Epic Systems Corporation Infor, Inc. Baxter International Inc. Ascom Holding AG Others Report – List of Tables Table 1: Market Size & Analysis By Revenue (USD Million) Table 2: Market Share & Analysis By Product Type Table 3: Real-Time Communication Solutions- Market Size & Forecast 2020-2030 (USD Million) Table 4: Data Integration Solutions- Market Size & Forecast 2020-2030 (USD Million) Table 5: Workflow Automation Solutions- Market Size & Forecast 2020-2030 (USD Million) Table 6: Enterprise Reporting and Analytics Solutions- Market Size & Forecast 2020-2030 (USD Million) Table 7: Care Collaboration Solutions- Market Size & Forecast 2020-2030 (USD Million) Table 8: Hospitals- Market Size & Forecast 2020-2030 (USD Million) Table 9: Ambulatory Care Centers- Market Size & Forecast 2020-2030 (USD Million) Table 10: On-Premise- Market Size & Forecast 2020-2030 (USD Million) Table 11: Cloud-Based- Market Size & Forecast 2020-2030 (USD Million) Table 12: North America Clinical Workflow Management Software Market Share By End User Table 13: Europe Clinical Workflow Management Software Market Size By Country Table 14: Competitive Outlook of Market Leaders Table 15: Company Profiles Overview of Key Players Report - List of Figures Figure 1: Global Clinical Workflow Management Software Market Trends & Developments Figure 2: Growth Drivers of the Global Clinical Workflow Management Software Market Figure 3: Challenges Facing the Global Clinical Workflow Management Software Market Figure 4: Regulations, Policies & Standards in Clinical Workflow Management Figure 5: Market Size & Forecast 2020-2030 by Region Figure 6: North America Market Size & Analysis By End User Figure 7: South America Market Outlook by Revenue Figure 8: Europe Market Analysis by Product Type Figure 9: Key Strategic Imperatives for Growth in Clinical Workflow Management Figure 10: Competitive Landscape of Clinical Workflow Management Software Market Looking for Regional or country-specific reports on this market? Visit our website or simply fill out the inquiry form - About Us – MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others. We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others. 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