TPG to buy energy software firm Irth Solutions from Blackstone

[M&A Mergers And Acquisitions]
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TPG (NASDAQ:TPG [https://seekingalpha.com/symbol/TPG]) agreed to acquire Irth Solutions, a provider of enterprise software for critical energy and infrastructure companies, from Blackstone (NYSE:BX [https://seekingalpha.com/symbol/BX]) Energy Transition Partners, Irth said on Tuesday.

Terms of the transaction weren't disclosed.

Irth provides cloud-based software solutions that integrate geospatial data with business intelligence and AI to offer 360-degree situational awareness for infrastructure operators, enabling proactive risk identification, mitigation, and management. The platform serves more than 20,000 daily users, processing more than 130M work orders and 500M AI insights annually to detect emerging weaknesses and allow prompt resolutions, the company said. [https://www.tpg.com/news-and-insights/tpg-to-acquire-irth-solutions-from-blackstone]

TPG (NASDAQ:TPG [https://seekingalpha.com/symbol/TPG]) said it has invested in mission-critical, purpose-built software businesses for decades.

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