ABB has agreed to acquire US-based power firm Power-One in a deal valued at $1,028m.
Swiss firm ABB is bidding to strengthen its position as a supplier of solar inverters used in photovoltaic (PV) solar energy systems.
"Solar PV is becoming a major force reshaping the future energy mix because it is rapidly closing in on grid parity," said ABB's CEO, Joe Hogan.
Power-One has developed its business supplying solar inverters, ranging from residential to utility applications.
Source:
http://www.electronicsweekly.com/Articles/2013/04/22/55979/abb-to-buy-power-one-for-solar-energy-business.htm
