Mooreland Partners Advises Adema Technologies on Its Sale to Taiwan based E-Ton Solar Tech and Gloria Solar
Silicon Valley, CA – 29 January 2008 – Mooreland Partners is pleased to announce that it acted as financial advisor to
Adema Technologies in its sale to E-Ton Solar Tech Co. and Gloria Solar Ltd. The $180mm transaction, in which E-Ton and
Gloria Solar paid $165mm of cash and stock and $15mm in assumed debt, was signed in June 2007. The move on the part of E-Ton and Gloria Solar is part of a trend that has seen solar panel makers form tie-ups with materials providers to ensure supply as silicon prices climb amid rising demand for alternate energy sources.
Adema Technologies, Inc. is a privately held corporation headquartered and with manufacturing operations in Mountain View, California, and with additional manufacturing facilities in Rancho Cordoba, California. The Company was founded in November 2000. Adema Technologies is a premier supplier of monocrystalline silicon ingots for the rapidly growing solar power industry
and produces large-diameter ingots for semiconductor manufacturing.
E-Ton Solar Tech Co., traded over-the-counter in Taiwan, is one of Taiwan’s top solar cell makers. E-TON Solar Tech focuses on developing solar cells to promote green and renewable energy in order to help reducing problems associated with energy consumption and the green house effect.
About Gloria Solar
Gloria Solar Ltd., founded in August 2006, is a solar product manufacturer in Taiwan, producing high quality solar products including specialty solar panels for automobile applications, integrated photovoltaic (BIPV) modules for commercial building applications and standard PV modules.
Mooreland provides investment banking advisory services to the global information and communications technology industries. From its offices in London, Silicon Valley and Greenwich, Mooreland’s international client service teams bring significant transaction expertise together with operational management and investing experience. The firm was created in 2003 to provide high quality strategic and tactical advice to public, private or venture-backed technology companies in relation to mergers and acquisitions, divestitures, financings, recapitalizations and restructurings.
In the United States, Mooreland Partners is regulated by FINRA and is a member of SIPC. In Europe, Mooreland Partners is authorized and regulated by the Financial Services Authority.