Tag: AcBel Polytech Inc.

ABB sells Power Conversion division to AcBel Polytech for $505 mn

ABB, a technology leader in electrification and automation, has reached an agreement to sell its Power Conversion division to AcBel Polytech Inc. for $505 million in cash. The transaction is subject to regulatory approvals and is expected to be completed in the second half of 2023. Upon closing, ABB expects to record a small non-operational book…