M&A Deal Summary

Facedrive Acquires EcoCRED

On April 14, 2021, Facedrive acquired internet software and services company EcoCRED from Exelon for 1M USD

Acquisition Highlights
  • This is Facedrive’s 3rd transaction in the Internet Software and Services sector.
  • This is Facedrive’s largest (disclosed) transaction.
  • This is Facedrive’s 1st transaction in the United States.
  • This is Facedrive’s 1st transaction in Illinois.

M&A Deal Summary
Date 2021-04-14
Target EcoCRED
Sector Internet Software and Services
Buyer(s) Facedrive
Sellers(s) Exelon
Deal Type Divestiture
Deal Value 1M USD

Target

EcoCRED

Chicago, Illinois, United States
website
EcoCRED is a sustainability platform aimed at empowering people to do more for the planet. Through its mobile application, EcoCRED estimates users’ daily carbon footprint based on where they live, how they commute, their heating and air conditioning habits, and the type of vehicle they drive. It also suggests simple tasks and useful lifestyle habits that help educate the users and, if incorporated into daily routine, significantly reduce their carbon footprint. EcoCRED was formed in 2019 and is based in Chicago, Illinois.

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Buyer(S) 1

Buyer

Facedrive

Scarborough, Ontario, Canada

website

Category Company
Founded 2016
Sector Internet Software and Services
DESCRIPTION

Facedrive, Inc. is a peer-to-peer ridesharing company that currently operates in Toronto/GTA, Hamilton, London and Guelph, Ontario. As a community platform, drivers are real partners in the company, benefitting from uniquely customized incentives and rewards that reflect a dedication to shared success.

DEAL STATS #
Overall 3 of 3
Sector (Internet Software and Services) 3 of 3
Type (Divestiture) 2 of 2
State (Illinois) 1 of 1
Country (United States) 1 of 1
Year (2021) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-14 Foodora

Toronto, Ontario, Canada

Foodora, Inc. is dedicated to bringing food lovers around the world their favorite meals from curated local restaurants. Foodora is based in Toronto, Ontario.

Buy -

Seller(S) 1

SELLER

Exelon

Chicago, Illinois, United States

website

Category Company
Founded 1999
Sector Utilities
Employees19,063
Revenue 19.1B USD (2022)
DESCRIPTION
Exelon's corporate headquarters in downtown Chicago, Illinois.
Exelon's corporate headquarters in downtown Chicago, Illinois.

Exelon is a competitive U.S. power energy provider. Company power generators, with approximately 35,000 megawatts of owned capacity comprising one of the nation’s cleanest and lowest-cost power generation fleets. Exelon was founded in 1999 and is based in Chicago, Illinois.

DEAL STATS #
Overall 6 of 6
Sector (Internet Software and Services) 1 of 1
Type (Divestiture) 4 of 4
State (Illinois) 1 of 1
Country (United States) 6 of 6
Year (2021) 1 of 1
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-01 W.A. Chester

Lanham, Maryland, United States

W.A. Chester LLC is a electrical contractor for installation, maintenance and repair of underground high voltage cable transmission and distribution systems. W.A. Chester's clients are the nation's electric utility companies and independent power producers. W.A. Chester works throughout the United States and Canada and is one of three specialty contractors performing this type of work on a national basis. In addition to underground systems, W.A. Chester has expanded its services to include installation, maintenance and repair of overhead electric distribution cable systems.

Sell -
Mergr

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