MANILA, Philippines – The oldest existing company in the Philippines, Ayala Corporation (AC), continues its journey to international expansion, having earned the controlling stake in Merlin Solar Technologies, Inc., a solar technology company based in California, USA.
The acquisition was made through Ayala Corporation Industrial Solar Holdings NA, a subsidiary of Ayala Corporation Industrial Technology Holdings Incorporated, which in 2016 had secured a minority investment in Merlin.
AC Industrials, with its most recent undertaking, will obtain 78.2 percent ownership interest in Merlin, a rising company that creates alternative solar energy solutions to make highly resilient and flexible products with enhanced solar power output.
Jaime Augusto Zobel de Ayala, Ayala Corporation and AC Industrial’s chairman, mentioned that the solar tech company would suit well AC’s business operations like renewable energy production of Ayala Corporation Energy.
According to him, such action is also in line with AC’s investing strategy in disruptive innovations.
Moreover, Zobel expressed that they are confident that the future will be defined by the change we are discovering today. They are enthusiastic to have the chance to include Merlin Solar Technologies, Inc. to the company’s portfolio. Merlin’s patented solar energy solutions are vital to AC Industrial’s plan of handling disruptive innovations and are in line with Ayala’s desire to venture into innovative and emerging spaces like in financial technology and electronic commerce.
Merlin Solar Technologies, Inc., based in San Jose, California, currently has supplemetary manufacturing centers located in Thailand.
Merlin, moving onward, will also build its own manufacturing presence in the Philippines through Ayala Corporation Industrials Integrated Microelectronics Incorporated.
Ayala stated that the acquisition outlines a portion of Ayala’s plan, through ACI, to raise its global and domestic presence in industrial technology spaces by exploiting opportunities emerging from changing industry patterns, disruptive technological shifts, and growing consumer demand.
Ayala Corporation Industrials has established a business portfolio in the industrial technology field comprising diverse platforms in electronics production, vehicle construction, vehicle sale and distribution, as well as rising technologies.
Arthur Tan, Ayala Corporation Industrials’ chief executive officer, mentioned the Merlin acquisition outlines a portion of AC Industrials’ plan to own, expand, and commercialize disruptive innovations in fast-changing industries.
The patent and intellectual property portfolio of Merlin allows a distinguished value principle in solar which, in combination to ACI’s core influence of giving production scale through Integrated Microelectronics Incorporated’s international platform, will give ACI a window to disrupt the industry of solar energy.