SolarCity to acquire Paramount Solar

SolarCity (SCTY +1.3%) will acquire channel partner Paramount Solar for $116.3M in stock and $3.7M in cash.

The deal gives SCTY what CEO Lyndon Rive calls "the best virtual sales organization in the solar industry." (PR)

SCTY updates FY13 guidance to 278 MW (from 270 MW).

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