SunPower Closes Sunder Energy Acquisition [Yahoo! Finance]
SunPower Inc. (SPWR)
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Source: Yahoo! Finance
Solaria, Inc.; herein “SunPower,” the “Company,” or Nasdaq: “SPWR”) a solar technology, services, and installation company, today announced that it has closed its strategic acquisition of Sunder Energy (“Sunder”), a leading residential solar sales company to create the U.S. residential solar industry's No. 5 company in installed megawatts, using data from Ohm Analytics. SunPower CEO T.J. Rodgers said, “This acquisition will immediately raise our revenue to its pre-ITC levels and then on to a new record. In addition, and equally important to us, it brings to us a great sales management team with its state-of-the-art sales business processes. In short, this deal is transformational for SunPower. The new revenue will be generated by Sunder's 893-person 1099 (dealer) sales force members, which are managed by only 20 Sunder W-2 (permanent) employees, who have already transferred to SunPower. Our current plan shows that this new low-overhead revenue will generate an operating income profi
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