What's Going On With First Solar Shares Today

First Solar Inc FSLR stock is jumping over 20% Friday morning.
FSLR strengthened its thin film photovoltaics (PV) offering via acquisition of Evolar AB in Europe.
The company paid a purchase price of $38 million and will also pay up to an additional $42 million, subject to the achievement of certain technical milestones in future.
FSLR projects an impact of around $2-4 million (excluding the purchase price accounting) on 2023 operating expenses.
"With this acquisition, along with our new innovation center in the United States and longstanding commitment to R&D, we are investing not just in First Solar's future, but the future of solar energy," said Mark Widmar, chief executive officer, First Solar.
Post-closure of acquisition, about 30 of Evolar's R&D staff will move to First Solar and join their team of around 60 scientists at the research facility in Santa Clara, California, and the development teams in Perrysburg, Ohio.
In October 2022, First Solar planned the construction of a new R&D innovation center in Perrysburg, Ohio, for $370 million, which is expected to complete in 2024.
Also read: First Solar Positioned For Favorable Pricing, Revenue Visibility And Significant Market Share Growth, Says Analyst
Price Action: FSLR shares are trading higher by 21.2% at $222.12 on the last check Friday.