SolarEdge Set to Enter Footprints in UPS Market via Gamatronic’s Acquisition

The agreement is subject to customary closing conditions and is expected to close by the end of the second quarter of 2018.

With an aim to move into the markets beyond solar arena, publicly listed PV inverter maker, SolarEdge Technologies will enter into the UPS market by signing an asset purchase agreement with Gamatronic Electronic Industries.

Gamatronic is a technology leader in the Uninterruptible Power Supply (UPS) field.

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

However, the agreement is subject to customary closing conditions and is expected to close by the end of the second quarter of 2018.

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.

Gamatronic develops, manufactures, and sells UPS electrical devices that provide emergency power to appliances when the input power source fails.

Commenting on the development, SolarEdge, CEO and Chairman, Guy Sella said, “This acquisition is our first step in expanding our business to new fields outside the solar arena.”

“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,” Sella added.

Meanwhile, after closing of the agreement, approximately 100 of Gamatronic’s employees will be re-hired as SolarEdge employees.