Aztec, which is headed by Mr Ed Murray, was founded a decade ago and has concentrated since then its main business in California, where it has installed over 7,000 systems to date.

SunTechnics is expected to be able to expand its solar thermal and photovoltaic business in the area thanks to this acquisition.

"Over the past few years, we have witnessed a significant growth (in) demand for solar thermal in the California market," Mr Murray said in a press release. "As part of SunTechnics we will now be able to offer our customers complete solar power and heating solutions supported by strong sales and premium customer service channels.", he added.

"Aztec Solar's experienced team offers us a competitive advantage that will allow us to increase our market share in both photovoltaic and solar water heating businesses," said Mr Florian Edler, CEO of SunTechnics Energy Systems, in the press release.

Mergers and acquisitions are usually a sign of somewhat mature markets. This is definitely good news for these two companies, which will be able to take advantage of geographical synergies and market economy opportunities, so as cost savings. This type of industry movement is good for everybody, as it generally reduces the cost of technology in  the long term. We will probably see similar moves in the coming months.

For additional information:

www.suntechnics.com

www.aztecsolar.com