RayTracker, a Pasadena start-up that makes goods for the solar energy industry and is backed by tech incubator Idealab, has been acquired by First Solar, a major maker of solar power panels and systems.
RayTracker makes devices that turn solar panels to follow the sun, as well as other hardware and software systems used in solar power plants. It is a spinoff of Energy Innovations, the Idealab portfolio company that develops solar concentrators, and also has funding from Quercus Trust and Phoenix Fire IV LLC.
Financial terms of the acquisition were not disclosed. Tempe-based First Solar said that all of RayTracker's team will join its engineering, procurement and construction group.
"We expect the addition of RayTracker's people and technology will help accelerate our ongoing quest to enable a world powered by clean, affordable and sustainable solar electricity," First Solar President Bruce Sohn said in a statement.
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