AcBel Completes Acquisition of the Power Conversion Division of ABB
July 10, 2023
AcBel Polytech Inc. has announced the successful completion of its acquisition of ABB Ltd’s Power Conversion division. The closing of the transaction follows the satisfaction of all conditions precedent, including CFIUS clearance.
Power Conversion is based in Plano, Texas, USA, with manufacturing facilities located in Mexico, China, and India. Having rich experience in serving the U.S. telecom market, Power Conversion has been essential to powering multiple generations of U.S. telecom infrastructure. The opportunities brought by the rollout of 5G networks present massive growth opportunities for Power Conversion given its leadership in technology, product quality, reliability, and life cycle services. In addition to telecom, the business is well positioned and currently capitalizing on key technology megatrends such as the increased use of cloud computing, manufacturing automation, supercomputing, and EV charging infrastructure, providing further drivers for its business growth.
“We’re thrilled to take this step in strengthening our power solution technology together with Power Conversion and to further cultivate a shared culture of innovation, driving even greater value for our customers,” said Jerry Hsu, Chairman of AcBel. “We believe that Power Conversion’s growing presence with customers in the data center, supercomputing, and EV infrastructure space will also lead to additional opportunities for AcBel’s product portfolio.”Jerry Hsu, Chairman of AcBel
The acquisition furthers AcBel’s commitment to creating cutting-edge technology and expands its expertise in system solutions, which are designed to fuel strong growth opportunities for customers in many of its core business sectors. Collaborating with Power Conversion will also allow AcBel to grow its customer base in the U.S., strengthen its local service capabilities, and extend its network of global manufacturing facilities.
Research Reveals Energy Concerns Impacting Business Competitiveness, The Workforce and Decarbonization
Research shows that businesses around the world remain concerned about the impacts of energy security and prices, which could be a catalyst for a range of environmental, social and economic ripple effects. According to ABB Electrification’s Energy Insights survey1 of 2,300 leaders from small and large businesses across a range of sectors, 92 percent of respondents feel that the continuing instability of energy is threatening their profitability and competitiveness. Energy costs and insecurity are having a significant impact on the workforce with decreased investment in employees. Business leaders are also concerned about potential impacts of meeting their sustainability targets.