Lindon-based Zyto Corp. has acquired substantially all of the assets and employees of solar energy business and software company Kailo Energy in an all-stock transaction.
Kailo Energy has developed a solar rechargeable mobile power storage unit and is developing a complete smart home energy solution that will allow home owners to fully control the collection, storage and use of their electricity, Zyto said in a release.
“This exciting new business direction will give ZYTO shareholders an increased chance at realizing an appreciation in the value of their stock,” said Dr. Vaughn Cook, founder of Zyto and an investor in Kailo. “Kailo is an exciting company with an amazing product in a field experiencing stunning growth. I believe the Kailo acquisition is a great way to maximize future value for our shareholders.”
Zyto designs and builds biocommunication technology to facilitate decision making about health and wellness options.
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