12:34 PM EDT, 04/04/2024 (MT Newswires) -- (Updates to add stock move in the headline and the first paragraph.)

SolarEdge Technologies ( SEDG ) shares gained more than 7% in recent trading after the company said Thursday that it has closed the acquisition of an electric vehicle charging optimization and management software startup called Wevo Energy.

The terms of the deal were not disclosed.

The company said that Wevo is already integrated with its EV chargers, solar inverters and meters, and will also become a part of the SolarEdge ONE energy optimization system for the commercial and industrial unit.

Price: 73.28, Change: +4.89, Percent Change: +7.15