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General Atlantic buys stake in German energy software platform powercloud

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General Atlantic buys stake in German energy software platform powercloud

General Atlantic Service Co. LP is acquiring a minority stake in Germany-based powercloud GmbH for an undisclosed sum, Reuters reported.

The private equity firm would aid powercloud in its market expansion initiatives, the report noted.

Powercloud is an open cloud platform serving energy supply companies, while General Atlantic invests in consumer, financial services, healthcare and technology companies.