ABB in $1 Billion Acquisition of Power-One
July 25, 2013
Cleary Gottlieb represented ABB, a Swiss industrial engineering company, in ABB’s acquisition of Power-One for approximately $1 billion in cash. ABB is headquartered in Zurich, Switzerland, and is a leader in power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact. Power-One is a provider of power conversion and power management solutions, in particular for the renewable energy sector. The deal was announced on April 22 and closeed in July 25.