An expert in smart energy, SolarEdge Technologies is entering the field of Uninterruptible Power Supply (UPS) by signing an asset purchase agreement with Gamatronic Electronic Industries. 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.
“This acquisition is our first step in expanding our business to new fields outside the solar arena,” stated Guy Sella, CEO and Chairman of SolarEdge. “The multi-billion dollar UPS market is expected to undergo significant changes in the coming years and we believe that combining SolarEdge’s innovation, operational excellence and business leadership with Gamatronic’s technology and extensive experience in this field will allow us to become a UPS market leader.”
SolarEdge is purchasing substantially all of Gamatronic’s assets, including its intellectual property, brand, and tangible assets. Upon closing of the agreement, approximately 100 of Gamatronic’s employees will be rehired as SolarEdge employees. The agreement is subject to customary closing conditions and is expected to close by the end of the second quarter of 2018.