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Zurich-based engineering and technology conglomerate ABB has agreed to sell its Power Conversion division to AcBel Polytech Inc. for $505 million (CHF463 million).
“By combining AcBel’s core capabilities in smart manufacturing and original design manufacturing with Power Conversion’s cutting-edge technologies in premium and high-quality products along with its advanced system solutions, we will be able to establish a more comprehensive product portfolio and expand our solution offerings to continue to create value for our customers and investors,” said AcBel chair Jerry Hsu.