SolarOne Solutions, Needham, MA, a provider of solar area lighting solutions to customers worldwide, has announced its acquisition of Inovus Solar Inc., a solar lighting company with complementary products, markets and technologies.
With this transaction, SolarOne Solutions brings the Boise-based firm’s technology, project pipeline, brand and other assets into its fold. All Inovus Solar personnel immediately become part of SolarOne Solutions and will continue to support its customer base worldwide.
“One would be hard pressed to find two more complementary companies,” says Moneer Azzam, SolarOne CEO. “The Inovus wrapped PV pole with embedded Lithium-ion energy storage fits with SolarOne’s line of professional lighting systems. But what comes next from the melding of these two teams is what I am excited about. It will allow us to accelerate our growth initiatives.”
Inovus Solar CEO, Doug Stewart, who will remain as a Board member and strategic advisor to the company says, “The combination of products, technical and marketing expertise and geographic footprint that results from this transaction is transformative for both companies.”