Blackstone (NYSE: BX) has announced a definitive agreement to acquire Enverus, a leading SaaS and data analytics provider for the energy industry, from current owners Hellman & Friedman and Genstar Capital. Financial terms were not disclosed. The transaction is expected to close by the end of 2025, pending customary approvals.

Founded in 1999, Enverus offers real-time data analytics and generative AI-powered insights to over 8,000 customers across 50 countries. The platform serves the entire energy value chain, including upstream, midstream, minerals, power, and renewables.

According to Manuj Nikhanj, CEO of Enverus, the acquisition positions the company to accelerate growth and innovation. "Blackstone shares our conviction that the future of energy will be defined by AI, real-time intelligence, and bold execution," he said.

Eli Nagler and Bilal Khan, Senior Managing Directors at Blackstone, stated that Enverus' services are increasingly vital amid surging AI-driven electricity demand and the broader energy transition. They cited Blackstone's experience in infrastructure and energy markets as complementary to Enverus' growth plans.

Ben Farkas of Hellman & Friedman and Eli Weiss of Genstar Capital both highlighted Enverus' innovation and expansion during their four-year investment partnership, noting the company's scale-up in generative AI and power market analytics.

The deal adds to a growing portfolio of Blackstone energy and infrastructure investments focused on meeting rising electricity demand and supporting the global energy transition.