The deal, expected to close on August 1, will grant GE Vernova access to Alteia’s AI-based software, which analyzes visual data, such as photographs, to inspect the grid for damage.
GE Vernova (GEV) is reportedly acquiring French software firm Alteia SAS to integrate artificial intelligence into grid inspection and damage assessment.
GE Vernova’s stock rose as much as 1.6% in pre-market trade on Monday.
According to a report by Bloomberg, the deal is expected to close on August 1. It will provide the maker of power generation equipment with access to Alteia’s AI-based software, which analyzes visual data, such as photographs, to detect potential grid damage, identify areas where vegetation needs to be cleared, and assess post-disaster infrastructure.
The transaction terms were not disclosed.
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