ConnectM divests India business for $34.2M in Blue Cloud shares, focusing on US energy tech and AI.

ConnectM Technology Solutions has agreed to sell its India business and a strategic land asset to Blue Cloud Softech Solutions in exchange for 160 million Blue Cloud shares valued at approximately $34.2 million. This divestiture represents 5.8% of ConnectM's annual revenue and will simplify its international operations, allowing the company to focus on growth in US energy storage, AI infrastructure, and distributed energy. The transaction will give ConnectM a 17.3% equity stake in Blue Cloud, maintaining exposure to the Indian market through a publicly listed company. The deal is subject to regulatory approvals, including compliance with Indian securities laws.