Otovo signs LOIs to buy PV Hawaii, Norway’s Mr. Elektro for USD 4.6 million

Reuters2026/08/27 11:02

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Otovo entered non-binding LOIs to buy PV Hawaii and Mr. Elektro for about USD 4.6 million.
Deals would expand Otovo into Hawaii, adding its 17th U.S. state, while increasing in-house installation capacity in Norway and Sweden.
Targets are forecast to contribute USD 7 million revenue, USD 1.7 million EBIT in 2027.
Mr. Elektro consideration: NOK 12 million cash at closing, NOK 8 million in shares, up to NOK 10 million earnout in shares.
PV Hawaii consideration: USD 0.75 million at closing, earnout up to USD 0.81 million over three years, split 50% cash, 50% shares.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Otovo ASA published the original content used to generate this news brief via Business Wire (Ref. ID: 202608270700BIZWIRE_USPR_____20260827_BW162460) on August 27, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Otovo signs LOIs to buy PV Hawaii, Norway’s Mr. Elektro for USD 4.6 million

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