ABB, the leading power and automation group, announced today it has agreed to sell the Power Solutions business of Power-One to Bel Fuse Inc. (NASDAQ:BELFA and NASDAQ:BELFB), headquartered in Jersey City, N.J., for approximately $117 million. The sale is subject to customary regulatory clearance and is expected to close in the second quarter of 2014.
ABB is divesting Power Solutions because of a limited fit and few synergies with ABB's other businesses. The unit was part of ABB's acquisition of Power-One. Power-One's solar inverter business is core to ABB's renewable strategy and will remain in the portfolio of the nxcwx.
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ABB is divesting Power Solutions because of a limited fit and few synergies with ABB's other businesses. The unit was part of ABB's acquisition of Power-One. Power-One's solar inverter business is core to ABB's renewable strategy and will remain in the portfolio of the nxcwx.
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