IoT company Arkados to acquire SolBright Renewable Energy

By Kelly Pickerel Arkados Group, a software developer and system integrator enabling Internet of Things (IoT) applications for commercial and industrial customers, has signed a letter of intent to acquire the assets of SolBright Renewable Energy, a renewable energy design and development company based in Charleston, South Carolina, and a 2016 Top Solar Contractor. The deal is subject to customary closing conditions and regulatory approvals and is anticipated to close by March 31, 2017.

SolBright Renewable Energy is a provider of turnkey EPC services for the commercial/industrial and military solar photovoltaic markets. Arkados will pay $15 million in a combination of cash, debt and

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