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SolarEdge to Acquire Gamatronic to Enter Uninterruptible Power Supply Market.

MANews-(C)2009-2018

11 May 2018 - Israel-based energy company SolarEdge Technologies, Inc. (NASDAQ: SEDG) has signed an asset purchase agreement with Israel-based technology company Gamatronic Electronic Industries Ltd (TLV: GAMT) to enter the uninterruptible power supply (UPS) market, the company said.

Terms of the transaction were not disclosed.

SolarEdge is purchasing substantially all of Gamatronic's assets, including its intellectual property, brand, and tangible assets.

The agreement is subject to customary closing conditions and is expected to close by the end of 2Q18.

SolarEdge intends to leverage its track-record of technological innovation, operational excellence and power electronics expertise, in combination with Gamatronics' intellectual property, know-how, and market presence to build a leading global UPS business.

Through this acquisition, SolarEdge will expand and diversify its business and continue to develop innovative technology that drives progress in smart energy and transforms the way the world produces and consumes energy.

SolarEdge provides an intelligent inverter solution that has changed the way power is harvested and managed in solar photovoltaic systems.

The SolarEdge DC optimised inverter system maximises power generation at the individual PV module-level while lowering the cost of energy produced by the solar PV system.

Supporting increased PV proliferation, the SolarEdge system consists of power optimisers, inverters, smart energy management, and a cloud-based monitoring platform.

Gamatronic develops, manufactures, and sells UPS electrical devices that provide emergency power to appliances when the input power source fails. Gamatronic has sells its products in the United States, China, Europe, South Africa and Latin America.

Country: Israel

Sector: Electronics

Target: Gamatronic Electronic Industries

Buyer: SolarEdge Technologies

Vendor:

Deal size in USD:

Type: Corporate Acquisition

Financing:

Status: Agreed

Buyer advisor: , ,

Comment: Terms of the deal were not disclosed

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Publication:M & A Navigator
Geographic Code:7ISRA
Date:May 11, 2018
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