SolarEdge Technologies, an Israeli maker of solar power inverters, is buying 75% of South Korean lithium-ion battery cell supplier Kokam for $88m. Solaredge says it will seek to acquire the outstanding Kokam shares, which are listed on the South Korean exchange, through open-market purchases. SolarEdge said it would try to buy the rest of Kokam on the open market. SolarEdge is one of a number of inverter makers who have been expanding their technology portfolio by agreeing deals in related sectors. The deal will give SolarEdge, which has offices in Israel, Germany and China, access to more than half of all lithium batteries produced worldwide.
SolarEdge Technologies, an Israeli maker of solar power inverters, is buying 75% of South Korean lithium-ion battery cell supplier Kokam for $88m. SolarEdge said it would try to buy the rest of Kokam on the open market. SolarEdge is one of a number of inverter makers who have been expanding their technology portfolio by agreeing deals in related sectors. The deal will give SolarEdge, which has offices in Israel, Germany and China, access to more than half of all lithium batteries produced worldwide.