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Otovo AS Class A ( (DE:89K) ) has shared an update.
Otovo has agreed to acquire key customer and operational assets from insolvent Dutch residential solar provider Soly Holding B.V., adding records for 24,000 installed systems, intellectual property, domains, service vehicles and a pipeline of signed but not yet installed projects across six European markets, without assuming any liabilities or historical service obligations. The deal is designed to migrate stranded Soly customers onto Otovo’s paid service and maintenance offering, Otovo Care, and to sell them battery upgrades, positioning the company to capitalize on a multi‑billion‑euro battery retrofit opportunity in the Netherlands ahead of the 2027 net‑metering phase‑out, while generating near‑term profit from Soly’s project pipeline; Otovo will pay approximately €0.75 million in cash at closing plus a success‑based earn‑out linked to customer conversion, and expects the transaction to be accretive to net income in 2026.
More about Otovo AS Class A
Otovo AS is an AI-native home energy services company operating across Europe and the United States, focused on residential solar power, battery solutions and grid-participation services. Listed on Euronext Oslo under the ticker OTOVO, it leverages its Endurance AI platform for real-time monitoring, rapid repairs and optimized service delivery for solar and energy systems in homes and businesses.
YTD Price Performance: -1.56%
Average Trading Volume: 725,359
Current Market Cap: NOK470.8M
Find detailed analytics on 89K stock on TipRanks’ Stock Analysis page.