Real Goods Solar, Inc, a leading residential solar energy integrator, announced today that it has expanded its solar energy integration business through the acquisition of Independent Energy Systems, Inc. (IES) of Santa Cruz, CA. This transaction represents the Company's third acquisition in less than a year. IES, a primarily residential solar energy integrator, had approximately $6 million of revenue in 2007 and positive operating income. Consideration paid, including debt assumed, was within Real Goods Solar's target range of paying between 50 - 60% of 2007 revenues and consistent with its strategy of driving profitable growth through the acquisition of established market leaders with reputations for quality.
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