| Acorn Energy announced that it has entered into a binding letter of intent to purchase 69% of GridSense Systems, Inc. which will increase its ownership to 100%. The agreement is only subject to Acorn completing its due diligence to its satisfaction, with the closing expected to occur on or about January 5, 2010. The terms include cash, Acorn stock, conversion of Acorn loans to GridSense stock, and management performance incentives for 2010. The details of the terms are in the 8-k filed today with the SEC. :theflyonthewall.com |
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