ABB, the leading power and automation technology group, and Power-One, Inc., a leading provider of renewable energy and of energy-efficient power conversion and power management solutions, confirmed that ABB has completed its previously announced acquisition of Power-One.
The transaction positions ABB as a leading global supplier of solar inverters, which play a critical role in converting the sun’s energy into electric current and controlling its flow into the power system. Power-One has one of the market’s most comprehensive offerings of solar inverters, ranging from residential to utility applications, and a broad global manufacturing footprint. It also has a power solutions portfolio that is adjacent to ABB’s business.
The transaction positions ABB as a leading global supplier of solar inverters, which play a critical role in converting the sun’s energy into electric current and controlling its flow into the power system. Power-One has one of the market’s most comprehensive offerings of solar inverters, ranging from residential to utility applications, and a broad global manufacturing footprint. It also has a power solutions portfolio that is adjacent to ABB’s business.
“The acquisition of Power-One expands our renewables businesses and provides substantial opportunities to create value for our customers, employees and shareholders,” said ABB’s CEO, Joe Hogan.