Enphase acquires Sunpower's microinverter business

Enphase Energy, Inc. and Sunpower Corporation announced a definitive agreement for Enphase to acquire Sunpower's microinverter business for $25 million in cash and 7.5 million shares of Enphase common stock. According to a SEC filing by Sunpower, Enphase will acquire intellectual property, technology and other assets primarily relating to the business, and will assume certain contracts and other liabilities. The transaction is expected to close at the end of the third quarter of 2018 subject to product qualification and other closing conditions under the definitive asset purchase agreement.

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