E-Ton Solar Buys U.S. Supplier for $153.7M

E-Ton Solar Tech Co. (3452.TWO), a leading Taiwan solar cell manufacturer, announced it would acquire US-based Adema Technologies, which makes solar components.

E-Ton will pay US$153.7 million in cash and stock.

The move is part of a vertical integration trend in the industry where solar panel makers combine with materials providers to ensure supply.

“Through this acquisition, E-Ton Solar will be able to establish a stable long-term ingot supply base from Adema,” said Stephen Wu, E-Ton Solar founder and chairman.

E-Ton expects the deal to close in the third quarter.