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ABB sells Power Conversion business to AcBel for $505m

26 January, 2023

ABB is selling its Power Conversion division to the Taiwanese switching power supply manufacturer AcBel Polytech, for $505m in cash. ABB acquired the business, formerly known as Lineage Power, as part of its purchase of GE Industrial Solutions in 2018, but did not regard it as being core to its activities.

The division, which supplies end-to-end power conversion systems for mission-critical applications in the industrial, telecommunications and data centre sectors, is based in Texas. It employs around 1,500 people worldwide. In 2022, it generated revenues of around $440m and income of about $50m – mainly in the North American market.

AcBel will use the acquisition to strengthen its product portfolio, expand its customer base and enhance its r&d, manufacturing, commercial and service capabilities in the US. By integrating ABB Power Conversion’s technologies and systems development expertise, AcBel plans to accelerate its expansion as an integrated solutions provider.

“We believe this transaction is beneficial to both parties,” says AcBel chairman, Jerry Hsu, “as we are highly complementary to each other in product portfolio, customer base and expertise. By combining AcBel’s core capabilities in smart manufacturing and original design manufacturing with ABB Power Conversion’s cutting-edge technologies in premium and high-quality products along with its advanced system solutions, we will be able to establish a more comprehensive product portfolio and expand our solution offerings to continue to create value for our customers and investors.”

With the sale of Power Conversion, ABB has completed all of the divestments that it announced at the end of 2020, including the sale of Dodge and the spin-off of Accelleron.

AcBel has more than 8,800 employees worldwide. Its aim is to power the world with sustainable energy and high-efficiency power supplies.

AcBel announces its acquisition of ABB Power Conversion

The transaction is expected to be completed in the second half of 2023.

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AcBel PolytechLinkedIn  Facebook

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