Bel to acquire Power-One Power Solutions from ABB for $ 117 million
USA, New Jersey: Bel Fuse Inc. announced it is set to acquire the Power-One Power Solutions business of ABB Ltd.
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USA, New Jersey: Bel Fuse Inc. announced it is set to acquire the Power-One Power Solutions business of ABB Ltd.
Bel will pay approximately $ 117 million in cash to acquire the Power Solutions business, which had 2013 revenue of approximately $ 251 million, reports Broadway World. The acquisition is expected to close in the Q2 2014.
Power-One Power Solutions provides high-efficiency and high-density power conversion products for server, storage and networking equipment, industrial applications and power systems. The company offers a line of standard, modified-standard and custom designed AC/DC, DC/DC and other specific power conversion products.
“The acquisition of Power Solutions is a major step forward in the development of Bel’s power business and the implementation of our strategy to enhance growth and profitability for our shareholders. Since 2009, we have believed that the combination of our two respective power businesses would create a dynamic enterprise capable of competing effectively on a global basis. Bel is excited by the many growth opportunities that will be created by this transaction, and we look forward to building an industry-leading power business with our new colleagues at Power Solutions.” Daniel Bernstein, Bel’s President and CEO, said.
Bel designs, manufactures, and sells power transformers, modules, circuit protection and interconnect devices. It operates facilities around the world.
Source: Broadway World
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