By Phoenix Business Journal

First Solar Inc. has purchased RayTracker Inc., adding an ancillary business to its power products.

Terms of the deal were not disclosed.

RayTracker, based in Pasadena, Calif., designs and manufactures single-axis tracking systems that allow solar panels to follow the sunâ¿¿s movements throughout the day, which increases the efficiency of panels.

The move allows Tempe-based First Solar (Nasdaq:FLSR) to add a complementary piece of technology to its thin-film photovoltaic panels, which are being used primarily in utility-scale power plants.

RayTracker is one of the companies started by Idealab, also based in Pasadena. All of RayTrackerâ¿¿s employees will join First Solar.

Copyright 2011 American City Business Journals

http://www.bizjournals.com/phoenix/news/2011/01/07/first-solar-buys-raytracker.html?ana=thestreet
Copyright bizjournals.com 2010