Swiss industrial group ABB (ABB) has agreed to acquire Power-One (PWER) for $1.03B, with the...

|About: ABB LTD. (ABB)|By:, SA News Editor

Swiss industrial group ABB (ABB) has agreed to acquire Power-One (PWER) for $1.03B, with the offer of $6.35 a share representing a 57% premium to the latter's close on Friday. ABB is buying Power-One, the world's second-largest maker of inverters for allowing solar power to be fed into electricity grids, despite over-capacity and slumping demand in the solar industry - ABB expects growth in emerging markets and Japan to help revive the sector. (PR)