June 20, 2014 – ABB announced today it has completed the sale of Power-One's Power Solutions business to Bel Fuse Inc. The transaction, announced on April 28, closed on June 19, 2014.
ABB has divested Power Solutions because of a limited fit and few synergies with ABB's other businesses. The unit was part of ABB's acquisition of Power-One, Inc. Power-One's solar inverter business is core to ABB's renewable strategy and will remain in the portfolio of the group.
