ABB has reached an agreement to sell its Power Conversion division to AcBel Polytech Inc., for US $505 million in cash.
The transaction is subject to regulatory approvals and is expected to be completed in the second half of 2023.
ABB ‘s Power Conversion division, formerly Lineage Power, was acquired by the group as part of its acquisition of GE Industrial Solutions in 2018 and is not central to ABB’s activities. The division is headquartered in Plano, Texas, USA, and employs approximately 1,500 employees worldwide, primarily at three main sites and the US headquarters.
A global provider of end-to-end power conversion solutions for mission-critical applications in the telecommunications, data center, and industrial sectors, the business is well positioned and is currently capitalising on key technology megatrends such as the rollout of 5G networks, the rise in cloud computing and manufacturing automation.
AcBel is a global leader in the manufacture and design of switching power supplies. In addition to offering power solutions for a wide range of applications including PCs, smart home appliances, smartphones, servers, and network equipment, AcBel also develops solutions for sustainable energy and the electric vehicle (EV) market. Headquartered in Taiwan, the company employes more than 8,800 worldwide.
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