ConnectM Technology Solutions (CNTM) Announces Acquisition of Air Temp

ConnectM Technology Solutions, Inc. (Nasdaq: CNTM) ("ConnectM" or the "Company"), a high-growth technology company powering the next generation of electrified equipment, mobility, and distributed energy, today announced the acquisition of all the assets of Air Temp Service Co. ("Air Temp"), a leading provider of heating and cooling solutions in New Jersey, in exchange for 1.5 million shares of ConnectM common stock.

Air Temp, which significantly bolsters ConnectM's Owned Service Network segment, will leverage ConnectM's omnichannel platform to cross-sell distributed energy solutions to its established HVAC customer base. Additionally, ConnectM will deploy its Connected Operations applications to proactively monitor and safeguard Air Temp's HVAC equipment offerings against avoidable failures. Performance data collected from Air Temp equipment will integrate seamlessly into ConnectM's Energy Intelligence Network, enhancing predictive capabilities and driving increased recurring revenue.

John Pitcavage, ConnectM's President of Home and Building Electrification, remarked, "We are thrilled to welcome Air Temp into ConnectM's growing constellation of modern energy economy brands. This strategic addition brings us closer to our vision of comprehensive electrification solutions and positions us to deliver even greater value to both residential and commercial customers. Air Temp's longstanding commitment to excellence aligns perfectly with ConnectM's mission to accelerate the transition to a smarter, cleaner energy economy."

You May Also Be Interested In

• Nerdy Inc. regains NYSE listing compliance on share price
• Delivery Hero boards recommend Uber's €41.50-per-share takeover offer
• Bp sells stakes in Brazil and Gulf of America assets to Shell