Published August 5, 2015 12:13pm EDT | Updated August 7, 2015 12:21pm EDT

SolarCity To Buy Mexican Solar Company, First International Acquisition

SolarCity Corp. on Wednesday said it reached a deal to buy Mexico's solar developer Ilioss for an undisclosed sum, the U.S.-based company first international acquisition. The deal is expected to close later this month, SolarCity said. Shares of the company rose 2.3% on Wednesday, and have gained 13% so far this year, about four times as much as the S&P 500 index in the same period.