Nextracker acquires Origami Solar; shares up

Nextpower

08/09/2025 23:24

** Shares of solar tracking equipment maker Nextracker NXT.O rise ~2% to $71.12 in extended trading

** Company acquires steel frame technology company Origami Solar in an all-cash transaction of about $53 million

** Steel frames offer an alternative to traditional aluminum frames, delivering durability, competitive cost, a robust localized supply chain and lower carbon footprint

** NXT says that the acquisition of Origami Solar brings dedicated panel frame design and engineering talent to the company to drive innovation around optimized panel-tracker solutions

** "We believe shares will respond favorably to the acquisition as an additional growth vector to support NXT's longer term aspirations ... to account for approximately one-third of its total revenue within the next five years" - RBC analyst Christopher Dendrinos

** Up till last close, stock up ~91% YTD

(Reporting by Pooja Menon in Bengaluru)

((Pooja.Menon@thomsonreuters.com;))