Power-One and Magnetek Sign Definitive Acquisition Agreement

Power-One, Inc., will acquire the Power Electronics Group (PEG) of Magnetek, Inc., which sells power supplies and renewable energy products, to enable both companies greater focus on the digital power management industry.

“The combination of Power-One and Magnetek’s Power Electronics Group brings together two businesses with considerable expertise in delivering innovative solutions to the expanding digital power management market,” said Bill Yeates, chief executive officer of Power-One, a company that designs and manufactures power conversion products for telecommunications, Internet service providers (ISPs) and communications-equipment manufacturers. “The divestiture of Magnetek’s embedded power- electronics business accelerates our strategy of focusing on digital power and motion control systems for material handling, elevators and mining, as well as large commercial alternative energy applications,” said Thomas Boren, Magnetek’s chief executive officer. Magnetek builds multi-megawatt power inverters for large wind generators and power conditioners for commercial fuel cells. “With this acquisition, we will add digital controls for motors, specialty transportation and system-level applications, and alternative energy,” Yeates added. PEG, with operations in Italy, Hungary, China and the U.S., sells to original equipment manufactuers (OEMs) including IBM, Motorola and Siemens in applications for servers, storage, renewable energy and other related industries.
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