Otovo acquires SunSystem Technology

Otovo has entered into a non-binding agreement to acquire SunSystem Technology (SST), marking its seventh acquisition since December 2025. This strategic move aims to bolster Otovo's presence in solar services across the United States and Europe. The acquisition will involve a cash transaction of approximately $770,000 at closing, alongside a three-year earn-out arrangement worth up to $1.3 million. The earn-out is contingent on meeting specified net income targets and will be paid through a combination of cash and Otovo shares.

The acquisition will enhance Otovo's operational capabilities in 14 U.S. states, leveraging SST's focus on operations and maintenance services for distributed solar generation assets. These include residential systems, commercial installations, energy storage assets, and electric vehicle charging infrastructure. Thanks to SST’s reported 2025 revenue of $14 million, the deal sets a potential enterprise value-to-revenue multiple of 0.15x, contingent on the full earn-out being achieved.

This acquisition aligns with Otovo's consolidation strategy, which aims to acquire and integrate fragmented solar service operators into its platform. Rather than centering business growth on solar system installations, Otovo emphasizes a model built around monitoring, maintenance, and lifecycle asset management services. Key to this strategy is Otovo's integration of these new operations into its Endurance™ AI platform, which enhances efficiencies across service intake, technician dispatch, scheduling, and supply chain logistics in a bid to capture a recurring revenue stream.

The broader sector trend reflects a shift towards servicing existing solar infrastructures as the market matures. Installer bankruptcies and fragmented service coverage have increased the demand for dependable maintenance and support. Otovo’s acquisition spree, which includes companies like Solar Service Professionals and EnergyAid, underscores its commitment to expanding its service footprint in the U.S., while similar strategic moves in Europe have allowed it to convert orphaned customer portfolios into stable recurring service memberships.

Looking forward, Otovo's acquisition is pending due diligence, formal corporate approvals, and customary closing conditions. The firm anticipates that integrating SST into its AI-backed service infrastructure will not only streamline operations but also maintain strong customer service standards, reinforcing Otovo's position in an evolving solar services landscape.