Aurora Solar completes acquisition of Lyra to simplify solar permitting

Jul 15, 2024•about 1 year ago

Acquiring Company

Aurora Solar

Acquired Company

Lyra

San Francisco

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Description

Aurora Solar, the leading platform for solar sales and design today announced its acquisition of Lyra, the leading provider of instant plan set packages. The integration of Lyra into the Aurora Solar platform will help alleviate challenges in the solar permitting process by providing instant, permit-ready proposals, backed by Aurora's industry-leading accuracy. This acquisition significantly accelerates Aurora Solar's ability to be the market leader in U.S. residential plan set services and automation.

Company Information

Company

Aurora Solar

Location

434 BRANNAN STREET

San Francisco, California, United States

About

Aurora Solar is a fast-growing technology company whose digital platform enables solar professionals to streamline complex and costly manual processes, so they can focus on what matters – driving solar adoption at scale. The San Francisco-based company is currently valued at $2 billion and was named Rising Star Company by S&P Global Platts in 2020. Globally, over 7 million solar projects have been designed using Aurora's platform.

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Integration timeline

70% of M&A integrations take 12-24 months to complete

Tech stack consolidation

83% of merged companies consolidate technology vendors within first year

Post-acquisition investment

Companies increase IT spending by 23% on average after acquisitions

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