SolarEdge Technologies completed the acquisition of a 56% stake in SMRE for $85m.

SolarEdge Technologies, a provider of smart energy technology, completed the acquisition of a 56% stake in SMRE, a provider of innovative integrated powertrain technology and electronics for electric vehicles, for $85m. “The acquisition of SMRE is another step in executing our strategy of sustainable growth by addressing an additional fast growing and technologically synergetic market while diversifying into new fields outside the solar arena. SMRE’s innovative technology and experienced, successful team provides SolarEdge with fast-track access to the high-growth e-mobility market. We believe that combining SMRE’s vast experience and full powertrain technology with SolarEdge’s innovative power and battery technology, proven operational excellence and global reach, positions us to become a market leader in this important market” Guy Sella, SolarEdge CEO, Chairman and Founder.