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Nextracker Announces Acquisition of Origami Solar

1. Nextracker acquires Origami Solar for $53 million to expand solar frame market. 2. Acquisition enhances product offerings with advanced roll-formed steel technology.

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FAQ

Why Bullish?

The acquisition signifies diversification and innovation, similar to successful acquisitions by competitors enhancing market position.

How important is it?

The acquisition strengthens NXT's competitive edge in the solar industry, indicating potential revenue growth.

Why Long Term?

Strategic expansion into the solar frame market positions NXT for sustained growth, reflecting long-term potential as demand for solar increases.

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SPWRENPHCSIQ
FREMONT, Calif.--(BUSINESS WIRE)--Nextracker (Nasdaq: NXT), a leading solar technology platform provider, today announced its expansion into the solar panel frame market with the acquisition of Origami Solar, Inc., a pioneer in roll-formed steel frame technology, in an all-cash transaction of approximately $53 million including future contingent earnout consideration. Steel frames offer a high-performance alternative to traditional extruded aluminum frames, delivering superior strength and dura.

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