SolarEdge Technologies has closed the previously announced acquisition of approximately 75% of Kokam, a provider of lithium ion cells, batteries, and energy storage solutions.
SolarEdge CEO, chairman and founder Guy Sella said: “We are excited that Kokam is joining the SolarEdge team and look forward to pooling our shared accomplishments to provide the market with more holistic smart energy systems.
“We believe that our complimentary areas of expertise will allow us to combine the extensive know-how and core assets of both companies in order to further enhance SolarEdge’s portfolio and industry leadership.”
As previously announced, the Company’s current aggregate investment to purchase the Kokam shares is approximately $88 million, including transaction-related expenses.
Source: Company Press Release