ABB has purchased Power-One Inc., a provider of renewable energy and of energy-efficient power conversion and power management solutions.
According to ABB, the transaction positions the company 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 a comprehensive offering 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. Power-One employs almost 3,500 people, mainly in China, Italy, the United States, and Slovakia.