Reliance Industries will acquire a majority stake in US-based software developer SenseHawk Inc for $32 million, in a bid to boost RIL chairman Mukesh Ambani’s solar energy plans. “RIL has today signed definitive agreements to acquire a majority stake in SenseHawk Inc (“SenseHawk”) for a total transaction value of USD 32 million, including funding for future growth, commercial rollout of products, and R&D,” the oil-to-telecom major said in a statement on Tuesday. SenseHawk is a developer of software-based management tools for the solar energy generation industry. The California-based firm helps accelerate solar projects from planning to production by helping companies streamline processes and use automation. Reliance Industries share price jumped more than 1% to Rs 2,598 apiece on BSE after the announcement.

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