SunPower Acquires PowerLight
San Jose-based SunPower, a manufacturer of high efficiency solar cells and solar panels, said this morning that it has signed a definitive agreement to acquire PowerLight, a Berkeley-based solar systems provider. The deal is worth $265M in upfront payments plus $67.5M in retention carve-out. Roughly $130M of the deal is cash, with the remaining $202.5M in stock. SunPower said that the acquisition is expected to be immediately accretive to the firm. The firms said that they expect the transaction to close in Q1 of 2007.
posted on Wednesday, November 15, 2006
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