ABB sells power business to AcBel Polytech
Taiwanese power supply maker buys US-based power conversion business for $505 million
Swiss engineering and technology company ABB has sold its US -based power conversion business to Taiwan-based power supply firm AcBel Polytech Inc for $505 million.
ABB's power conversion division is based in Plano, Texas, USA, and employs roughly 1,500 employees worldwide, predominantly at three major sites and the US headquarters. It generated revenues of around $440 million and income from operations of approximately $50 million in 2022, with a focus on the North American market.
“We are very happy to have found an excellent new home for this specialised business that can go from strength to strength under the leadership of AcBel in the future,” said Björn Rosengren, ABB CEO. “We are also delighted to complete all divisional portfolio divestments announced at the end of 2020, including the sale of Dodge and the spin-off of Accelleron.”
