ABB, power and automation technology firm is likely to acquire US-based solar energy company Power-One for over $1 billion. With this initiative, it aims to become a global leader in solar photo-voltaic inverters.
Both the firms have received their respective boards approval for the transaction in which ABB will acquire Power-One for $6.35 per share in cash or $1,028 million equity value, which includes Power-One’s net cash of $266 million.
ABB is a global leader in power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact.
