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ABB, a leading player in renewable energy, today announced it will acquire Power-One to become a global leader in solar photovoltaic (PV) inverters.
"ABB’s leading portfolio in power and automation, global footprint and service organization makes it a natural player in solar PV. For many years ABB has brought its solutions to the solar PV industry and is on track to generate sales of more than $100 million in solar inverters in 2013," said a company statement. In 2012, ABB invested about $1.5 billion in R&D overall.
