TAIPEI, July 5, 2023 -- AcBel Polytech Inc. ("AcBel") (TWSE: 6282) announced the successful completion of its acquisition of ABB Ltd's ("ABB") (SWX:ABBN) Power Conversion division ("Power Conversion"). The closing of the transaction follows the satisfaction of all conditions precedent, including CFIUS clearance.

Power Conversion is based in Plano, Texas, USA, with manufacturing facilities located in Mexico, China, and India. Having rich experience in serving the U.S. telecom market, Power Conversion has been essential to powering multiple generations of U.S. telecom infrastructure. The opportunities brought by the rollout of 5G networks present massive growth opportunities for Power Conversion given its leadership in technology, product quality, reliability, and life cycle services. In addition to telecom, the business is well positioned and currently capitalizing on key technology megatrends such as the increased use of cloud computing, manufacturing automation, supercomputing, and EV charging infrastructure, providing further drivers for its business growth.

"We're thrilled to take this step in strengthening our power solution technology together with Power Conversion and to further cultivate a shared culture of innovation, driving even greater value for our customers," said Jerry Hsu, Chairman of AcBel. "We believe that Power Conversion's growing presence with customers in the data center, supercomputing, and EV infrastructure space will also lead to additional opportunities for AcBel's product portfolio."

The acquisition furthers AcBel's commitment to creating cutting-edge technology and expands its expertise in system solutions, which are designed to fuel strong growth opportunities for customers in many of its core business sectors. Collaborating with Power Conversion will also allow AcBel to grow its customer base in the U.S., strengthen its local service capabilities, and extend its network of global manufacturing facilities.

About AcBel

AcBel is a leading provider of switching power supply solutions for a wide range of applications including PCs, smart home appliances, smartphones, servers, and networking equipment. In recent years, AcBel also accelerated its investment in clean and efficient energy solutions for electric vehicles and solar farms, which has enabled AcBel to become a comprehensive power technology expert from power generation and energy storage to high-efficiency power supplies. The company's mission is to support customers by delivering a competitive edge and revealing new opportunities in today's smart, always power-available, and data-intensive world while promoting sustainable collaboration with the supply chain, strategic partners, and customers. www.acbel.com

About ABB

ABB is a technology leader in electrification and automation, enabling a more sustainable and resource-efficient future. The company's solutions connect engineering know-how and software to optimize how things are manufactured, moved, powered, and operated. Building on more than 130 years of excellence, ABB's ~105,000 employees are committed to driving innovations that accelerate industrial transformation. www.abb.com

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