Advertisement

Power-One Acquires HC Power in Stock Swap

Share

Power-One Inc. in Camarillo said it has reached an agreement to acquire HC Power Inc. of Irvine.

HC Power supplies power systems for the telecommunications industry, Internet service providers and original equipment manufacturers. Its customers include Williams Communications, CEA Telecom, Qwest and Nextel, Motorola and Nortel Networks.

Power-One agreed to acquire HC Power in a stock swap in which Power-One will issue approximately 2.1 million shares. Power-One will account for the transaction as a pooling of interests.

Advertisement

The deal is expected to close on Feb. 29.

Power-One designs power conversion products, with a strong North American and European presence in the telecommunications-equipment market. It has approximately 3,000 employees, with manufacturing operations in Mexico, the Dominican Republic, Puerto Rico, Switzerland, Ireland and Slovakia.

Advertisement