Bel closes acquisition of ABB Power-One’s Power Solutions
USA, New Jersey: Bel Fuse Inc. has closed the previously announced acquisition of the ABB Power-One Solutions business.
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USA, New Jersey: Bel Fuse Inc. has closed the previously announced acquisition of the ABB Power-One’s Power Solutions business.
Bel acquired the Power Solutions business for approximately $ 117 million on a cash and debt-free basis, with 2013 revenue of approximately $ 251 million. The business has manufacturing facilities in Shenzhen, China and Dubnica nad Vahom, Slovakia, reports Sys-Con.
Power Solutions provides power conversion products for server, storage and networking equipment, industrial applications and power systems. It offers standard, modified-standard and custom designed AC/DC, DC/DC and other specific power conversion products for a variety of technologies in data centers, telecommunications and industrial applications.
“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.” said Daniel Bernstein, Bel’s President and CEO.
Source: Sys-Con
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