Nextracker acquires Ojjo in all-cash transaction for $119M

Nextracker announced it has acquired Ojjo in an all-cash transaction for approximately $119M. The purchase price is subject to working capital and other customary purchase price adjustments. Ojjo is a U.S.-based renewable energy company specializing in foundation technology and services used in utility-scale ground-mount applications for solar power generation. “We are thrilled to welcome Ojjo to Nextracker,” said Dan Shugar, founder and CEO of Nextracker. “Our customers greatly value proven integrated solutions to improve project design, simplify procurement, and reduce risk for their projects. This partnership builds on our successful product collaboration with Ojjo. Their team brings geotechnical products and expertise in foundation systems that are especially well-suited to rocky sites, with control system intellectual property that is broadly applicable to a range of equipment. This acquisition furthers our successful global tracker foundation business with next-generation, differentiated technology.”