PV inverter market to intervene aggressively sought after industrial giant ABB

Switzerland, the global power and automation giant ABB Group (SWX code: ABBN) 22 announcement that will be $ 6.35 per share, amounting to approximately $ 1.03 billion acquisition of the world's second largest manufacturer of photovoltaic inverters America Parkway power Corporation (Power One, Nasdaq: PWER). Offer Price represents the 19th Parkway closing price 57% higher power. After the announcement, Poway power price surge, 22 closed up 56.68%.

Analysts believe that, despite the current prevalence of PV industry overcapacity situation, but it is precisely the current pure sine wave inverter entire PV industry chain portion of the few remaining profitable one, ABB acquired Parkway at this time is the best time to power march to the photovoltaic industry.

ABB said the transaction has been approved by the Board two companies, pending regulatory approval, is expected to be completed later this year. Transaction will get a lot of help Poway power development, service and sales resources, and added the rapid growth of ABB solar inverter business that will ensure its status as the world leading supplier of photovoltaic inverter status and enhance the company's leadership in the field of power electronics position.

Power is headquartered in Poway, California, a total of about 3,300 employees, mainly the production of photovoltaic inverters, with products ranging from residential to power companies for various applications, with a wide range of global production layout. 2012, the company's earnings before interest, taxes, depreciation and amortization $ 120 million, revenue of about $ 1 billion.

ABB Chief Executive Officer (CEO) Haokun 22, said the acquisition will enable ABB to become the world leader in the PV wind grid tie inverter industry, inverters for photovoltaic systems "smart center" photovoltaic power generation is becoming reshape future energy mix the main force.

After the transaction, the power will be incorporated Poway ABB Discrete Automation and Motion Control business unit. The head of business unit Global History LaBeouf said: "This acquisition will support our business strategy implemented by the Ministry of renewable energy, the inverter will bring us in the global market, high quality and leading edge technology to achieve differentiation opportunities . "

Boosted by acquisitions, as of 22 closing, Poway Power shares soared 56.68 percent, to close at $ 6.33 per share, close to last year's record highs in September as the company worth about $ 490 million.