By Tess Stynes
Bel Fuse Inc. (BELFA) agreed to acquire the power conversion
products unit of ABB Ltd. (ABB) for about $117 million.
The deal, seen closing in the current quarter, is expected to
begin adding immediately to networking component maker Bel Fuse's
earnings.
ABB's San Jose-based power solutions business has manufacturing
facilities in Slovakia and China and generated revenue of roughly
$251 million last year. The unit provides high-efficiency and
high-density power conversion products for server, storage and
networking equipment, industrial applications and power
systems.
"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," said Bel Fuse Chief Executive Daniel Bernstein.
"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."
Write to Tess Stynes at tess.stynes@wsj.com
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