First Solar Announces Purchase of RayTracker
First Solar, Inc. (NASDAQ: FSLR) and RayTracker, Inc. today announced that First Solar has acquired RayTracker, Inc., a tracking technology and photovoltaic (PV) balance-of-systems firm that is an operating company of Idealab, a creator and operator of technology companies. Terms of the deal were not disclosed.
RayTracker’s entire team will join First Solar’s Engineering, Procurement and Construction (EPC) group, bringing expertise in solar technology innovation, reliability engineering, advanced PV system modeling, software engineering, product development and high-volume manufacturing. RayTracker’s customers will be transitioned to First Solar.
“We expect the addition of RayTracker’s people and technology will help accelerate our ongoing quest to enable a world powered by clean, affordable and sustainable solar electricity,” said Bruce Sohn, President of First Solar. “We welcome RayTracker’s innovative associates to our advanced systems development team.”
