ABB Ltd acquired Power-One, Inc. for approximately $1.0 billion equity value ($6.35 per share in cash), a transaction completed in July 2013, structured as all cash.
Power-One, Inc. operates in Solar photovoltaic (PV) inverters, is based in Camarillo, California, United States. Power-One was one of the largest global makers of solar PV inverters, which convert solar energy into grid-usable electric current, with a broad product range from residential to utility scale and about 3,500 employees across China, Italy, the United States and Slovakia. ABB agreed to pay $6.35 per share, an equity value of roughly $1.0 billion that included Power-One's net cash of $266 million.
The acquisition made ABB a global leader in solar inverters, one of the most attractive parts of the PV value chain, and gave Power-One access to ABB's R&D, global service and sales reach.
Advisory firms were not disclosed for this transaction.