SunPower Signs Agreement to Acquire PowerLight Corporation
Acquisition Accelerates Growth and Product Innovation
SAN JOSE, Calif., Nov 15, 2006
Source: SunPower Corporation Press Release Nov 15, 2006
http://investors.sunpowercorp.com/releasedetail.cfm?ReleaseID=218726
SunPower Corporation (Nasdaq: SPWR), a Silicon Valley-based manufacturer of the world’s highest-efficiency, commercially available solar cells and solar panels, today announced it has signed a definitive agreement to acquire PowerLight Corp., a privately owned solar systems provider based in Berkeley, Calif. PowerLight is a leading global provider of large-scale solar power systems, having designed and deployed hundreds of large-scale solar systems with a total capacity of more than 100 megawatts over the past ten years. The PowerLight acquisition is expected to be immediately accretive to SunPower’s non-GAAP earnings.(1)