SunPower to Acquire Cobalt Power Systems in All-Equity Deal

SunPower has signed a letter of intent to acquire Cobalt Power Systems, a California-based solar design and installation company with $35 million in annual revenue. The acquisition will bring SunPower new technology and technology-savvy customers. Cobalt has designed and installed solar systems for Silicon Valley moguls and is the first SunPower Elite Dealer in the U.S. SunPower plans to operate Cobalt as a standalone subsidiary.