ABB to acquire Newave

ABB said the deal involves a voluntary all-cash public tender offer of CHF 56 per Newave share to purchase all of Newave’s publicly held shares. Newave, headquartered in Quartino, Switzerland, generated a net income of CHF 8.1 Million on sales of CHF 80.6 Million in 2010. Founded in 1993 and public in 2007, the company is a manufacturer of UPS systems with a focus on the development and production of power protection technology, as well as on technical consultancy, maintenance and service packages. ABB plans to integrate Newave in its Discrete Automation and Motion division and develop Quartino to become a main location for ABB’s UPS systems.