Bel Fuse, designer, manufacturer, and supplier of consumer electronics, telecommunications and high-speed data transmission products, recently acquired the Power-One Solutions business from ABB for approximately $117 million on a cash and debt-free basis. The business had approximately $251 million in revenue in 2013 and employs approximately 2,000 people with manufacturing facilities in Shenzhen, China and Dubnica nad Vahom, Slovakia. The acquisition is expected to be accretive to Bel’s earnings beginning in the second half of 2014.
Power Solutions is a leading provider of high-efficiency and high-density power conversion products for server, storage and networking equipment, industrial applications and power systems. Power Solutions offers a premier line of standard, modified-standard and custom designed AC/DC, DC/DC and other specific power conversion products for a variety of technologies in data centers, telecommunications and industrial applications. Power Solutions has a global sales footprint and a diverse customer base that includes some of the largest corporations and distributors in the world.
“The acquisition of Power Solutions is a major step forward in the development of Bel’s power business and the implementation of our strategy to enhance growth and profitability for our shareholders,” says Daniel Bernstein, Bel’s president and CEO. “Since 2009, we have believed that the combination of our two respective power businesses would create a dynamic enterprise capable of competing effectively on a global basis.”
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