SolarEdge Adds EV Tech to Its Portfolio With Majority Stake in Italy’s SMRE

By [email protected] SolarEdge has taken another step to expand beyond its core solar inverter business into other grid edge technologies — specifically, the electric vehicle space.

On Monday, the Israel-based company announced plans to acquire a majority stake in SMRE, an Italian EV drivetrain, charging and telemetry technology provider. Under the terms of the deal, SolarEdge will acquire 51 percent of SMRE for $77 million, including about $39 million in cash and the remainder in SolarEdge shares, and then make an offer to purchase the company’s outstanding shares on the Italian AIM stock exchange.

SolarEdge shared few other details about the acquisition

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