SunPower Signs LOI to Acquire Cobalt Power Systems, Expanding Residential Solar Services Capabilities

SunPower Inc. has signed a Letter of Intent (LOI) to acquire Cobalt Power Systems, a company with $35 million in revenue and 96 employees. Cobalt is a solar system design and installation company based in California, and its acquisition will bring new technology and customers to SunPower. The deal is expected to close after a 300-500 task acquisition process, which is currently underway.