Monday, January 7, 2019

SolarEdge Acquires S.M.R.E.

Fremont, California-based solar energy inverter and products developer SolarEdge Technologies said very late Sunday evening that it has agreed to acquire Italian company S.M.R.E. Spa, a developer of software for the electric vehicle market. SMRE develops e-mobility, automated production machines and telematics software for the electric and hybrid vehicle market. SolarEdge said it will purchase approximately 51% of SMRE from the founder and two additional stockholders, for an aggregate investment of approximately $77M. The deal is split 50/50 cash and shares of SolarEdge's common stock.