# AcBel Polytech to acquire ABB's Power Conversion division for $505M

AcBel Polytech Inc. (via AcLeap Power Inc.) entered into an agreement to acquire the Power Conversion division of ABB Ltd for $505 million in cash. The transaction is expected to close in the second half of 2023, subject to regulatory approvals.

- Type: Acquisition
- Announced: 2023-01-19
- Where: Plano, Texas, United States
- Value: $505.0M
- Jobs: 1,500
- Status: announced
- Products: power conversion equipment
- Sectors: [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md)

## Companies

- [ABB](https://endata.com/companies/1547.md)
- [ABB](https://endata.com/companies/1547.md) (target)
- [AcBel Polytech](https://endata.com/companies/67991.md) (acquirer)

## Sources

- [marketscreener.com](https://www.marketscreener.com/quote/stock/ABB-LTD-9365000/news/AcBel-Polytech-Inc-entered-into-an-agreement-to-acquire-GE-Power-Electronics-Inc-from-ABB-Ltd-for-42781827/), 2023-01-19: "The transaction will enable AcBel to strengthen its product portfolio, grow its customer base and enhance its local research development, manufacturing, commercial, and service capabilities in the United states."
- [acbel.com.tw](https://www.acbel.com.tw/en/new/9C8zJ10si2Xz9UjE), 2023-01-20: "The transaction will enable AcBel to strengthen its product portfolio, grow its customer base and enhance its local research development, manufacturing, commercial, and service capabilities in the U.S."
- [business-news-today.com](https://business-news-today.com/abb-to-divest-power-conversion-division-to-acbel-polytech-for-505m/), 2023-01-23: "We are very happy to have found an excellent new home for this specialized business that can go from strength to strength under the leadership of AcBel in the future."
- [sullcrom.com](https://www.sullcrom.com/About/News-and-Events/Highlights/2023/February/S-C-Advises-AcBel-Polytech-in-Deal-To-Acquire-Power-Conversion-Division-of-ABB), 2023-02-01: "On January 20, AcBel Polytech Inc. agreed to acquire ABB Ltd.’s Power Conversion division, ABB Power Conversion, for cash consideration of $505 million."
- [fmindustry.com](https://fmindustry.com/2023/02/27/abb-agrees-sale-of-power-conversion-division/), 2023-02-27: "ABB has reached an agreement to sell its Power Conversion division to AcBel Polytech Inc., for US $505 million in cash."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.