Vivint Solar, Inc. and Solmetric Corporation announced on January 23rd the closing of a merger that completes Vivint Solar's acquisition of Solmetric in an all cash transaction. Solmetric Corporation, a developer of photovoltaic installation instruments and software products, officially becomes a wholly-owned subsidiary of Vivint Solar.
Solmetric test and measurement instruments help solar installation companies deliver more accurate solar energy assessments during the pre-install process and fast and accurate performance testing during commissioning and O&M. The SunEye is a handheld electronic tool that provides best-in-class shade analysis. PV Designer software allows layout and energy production estimates for the optimum PV design. PV Analyzer is the leading US I-V curve tracer.
"Further in-house, advanced development of Solmetric products will help strengthen our pre-installation site assessment and CAD design process even further at this crucial market expansion time for Vivint Solar," Butterfield added.
"We are pleased with the merger agreement with Vivint Solar," said Willard MacDonald, president and CEO of Solmetric Corporation. "As part of Vivint Solar, we plan to continue to enhance our existing products line and develop even more offerings to benefit the entire industry and enable us all to install faster, low-cost and higher quality solar."
Willard MacDonald will join the Vivint Solar executive leadership team as vice president of Technology Development. All Solmetric employees will continue to be based in Sebastopol, CA. All existing sales contracts, distribution partnerships and product availability will continue under the Solmetric brand.