Bel Fuse Inc. announced that it has entered into a definitive agreement to acquire the Power-One Power Solutions business of ABB Ltd. Bel will pay approximately $117 million in cash to acquire the Power Solutions business, which had 2013 revenue of approximately $251 million. The acquisition, which is subject to regulatory approvals and other customary closing conditions, is expected to close in the second quarter of 2014 and to be immediately accretive to Bel’s earnings.
Headquartered in San Jose, California, and with manufacturing facilities in Slovakia and China, Power Solutions is a leading provider of high efficiency and high density power conversion products for server, storage and networking equipment, industrial applications and power systems. Power Solutions offers a premier line of standard, modified standard and custom designed AC/DC, DC/DC and other specific power conversion products for a variety of technologies in data centers, telecommunications and industrial applications. Power Solutions has a global sales footprint and a diverse customer base that includes some of the largest corporations and distributors in the world. It has 2,015 associates world wide.
For more information, visit www.belfuse.com.