$IVST Innovest has signed of a Letter of Intent to acquire 100% ownership of a $1.2 million annual revenue Energy Procurement business. The acquisition would increase baseline Commercial and Industrial revenue to $800,000 per quarter. It features more than 300 commercial and industrial clients, which Innovest Energy Group would immediately access for synergistic sales of lighting and efficiency solutions. The ability for Innovest to sell these clients additional products and services, was a reason both parties cited for wanting the acquisition to happen. The agreement is subject to due diligence and acceptance of final documents. It is structured as a share exchange, and expected to close no later than May 1, 2018.

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