$1bn for solar inverter Power-one paid by Swiss #ABB

ABB

new.abb.com/solar

to acquire Power-One for $6.35 per share in cash

ABB sees solar inverters market growing over 10% a year

Power-One employs almost 3,300 people, mainly in China, Italy, the United States and Slovakia and had sales of around $1 billion in 2012, ABB said.

Power-One power-one.com

source: reuters.com