Real Goods Solar To Buy Mercury Solar Systems - Quick Facts

(RTTNews) - Real Goods Solar, Inc. (RSOL) has agreed to acquire Mercury Energy, Inc. d/b/a Mercury Solar Systems in a merger transaction. Real Goods Solar would issue 7.9 million class A shares as the consideration for the acquisition of Mercury. A representative of Mercury's current board would be nominated to join Real Goods Solar's board.

Formed in 2008, Mercury Energy has installed more than 50 megawatts of solar projects that have cumulatively generated over $250 million in revenues, including $35 million in 2012.

Following the closure, Mercury would bring over 50 employees to Real Goods Solar, including three seasoned executives: Jared Haines, Mercury's co-founder and president, has had a successful career in sales of commercial solar systems and was instrumental in building the Mercury Solar Systems business and brand. Upon closing of the transaction, he would head commercial sales in the Northeast as vice president of sales at RGS Energy, the Commercial and Utility Division of Real Goods Solar.