The Swiss engineering company ABB agreed on Monday to acquire Power-One, the number two global PV inverter company, for $1 billion. The purchase will place ABB as the number-two global supplier of inverters and position them as a close competitor to inverter market leader SMA.
MJ Shiao, GTM Research's inverter specialist, writes, "Power-One provides ABB a wealth of operating experience and the complete suite of inverter solutions it has been targeting, while ABB lends its global footprint, purchasing power, and most importantly, bankability in a tumultuous market that is sure to see more consolidation events soon... We had predicted consolidation in the market and ABB as a potential buyer; however, this deal shows that every supplier is on the table. The purchase of Power-One, the second-ranked inverter company globally, and recent acquisition of REFUsol by competitor Advanced Energy shows that aggressive deal-making will quickly strengthen top players while leaving smaller and less well-capitalized suppliers much more susceptible to market exit."Read more at Greentech Media.