On 22nd April, Swiss group ABB agreed to buy power conversion and management manufacturer Power-One Inc. in a deal worth $1 billion. ABB is a major power and automation giant. The move to acquire the world’s second largest solar inverter provider now sets ABB to become the dominant photovoltaic inverter specialist in the global market. “Power-One is a well-managed company and is highly regarded as a technology innovator focusing on the most attractive and intelligent solar PV product,” said ABB’s CEO, Joe Hogan. “The combination of Power-One and ABB is fully in line with our 2015 strategy and would create a global player with the scale to compete successfully and create value for customers, employees and shareholders.” Air and water Residential is proud is supply and install Power-One inverters.
