VSLR - Sunrun Consolidates the Residential Solar Market With Vivint Solar Acquisition
Sunrun (NASDAQ: RUN), the nation's leading residential solar supplier, announced it is acquiring rival Vivint Solar (NYSE: VSLR) for $3.2 billion, including debt, in an all-stock deal. Sunrun says the deal will provide $90 million in annual cost synergies, and the combined company would have almost 500,000 customers.
The move will expand Sunrun's lead over Tesla (NASDAQ: TSLA), which has been working to grow its Solar Roof and energy storage product offerings. Tesla reported $173 million in energy generation and storage sales in the first quarter of 2020, not including its leasing business. Combined first-quarter sales for Sunrun and Vivint totaled slightly over $300 million.
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