Ascom To Buy ABB Power SuppliesApril 08, 1999 by Jeff Shepard
The Ascom Group (Switzerland) announced that it will purchase all shares of ABB Power Supplies GmbH (Soest, Germany), including its Hong Kong subsidiary and the respective activities in Palm Coast, Florida, in Hungary and in China. Terms of the acquisition were not disclosed.According to Ascom, the new division will be a globally active supplier offering a complete portfolio of products, particularly in computer, information technology and telecommunications equipment power supplies; power supplies for industrial, office and medical applications; and rectifier and inverter power systems. Ascom will have world-wide geographical coverage following the acquisition, including manufacturing close to the customer in all main markets. "The strategic fit between the two companies is excellent, with very minor overlapping in the companies' respective business activities," stated Ascom CEO Hans-Ulrich Schroeder. "The merger of the two companies will be beneficial to our customers, shareholders and employees. In addition, we are pleased to welcome a highly qualified management team from ABB Power Supplies. We anticipate a quick and smooth integration for all employees as both organizations share the same values in terms of customer satisfaction and high quality products and services."The new division will be headed by a management team led by Isto Hantila, currently head of Ascom Energy Systems, and will include senior management from both organizations.