Onyx Service And Solutions To Acquire Stake In China-Based Optimum Solar

Posted by SI Staff on January 30, 2012 No Comments
Categories : New & Noteworthy

U.S.-based Onyx Service and Solutions Inc. says it has executed a memorandum of understanding (MOU) to acquire 25% of China-based Optimum Solar.

The financial terms of the acquisition will be settled upon the completion of Onyx's due-diligence review of Optimum's existing operations and future valuations. The terms of the MOU allow for a short due-diligence period; therefore, ONYX management anticipates closing the acquisition within the next several weeks.

‘The combined resources of ONYX and Optimum will allow for the acceleration of the commercialization of our co-developed 'plug-n-play' all in one solar panel system,’ notes Onyx's president, Malcolm Burleson.

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