According to Taiwan media reports, Taiwan manufacturer Kangshu Technology announced on the evening of July 3 that it officially completed the acquisition of ABB’s Power Conversion business unit (ABB Power Conversion), and the transaction has met all delivery prerequisites, including obtaining the United States CFIUS national security audit. Kangshu announced on January 20 this year that it acquired all the shares of ABB’s power conversion business unit for $505 million to expand the layout of 5G, data centers, electric vehicle charging infrastructure, and expand the U.S. market.

ABB’s Power Conversion division, headquartered in Plano, Texas, with production facilities in China, Taiwan, the Philippines, Mexico and India, serves the data center server, telecommunications and electric vehicle industries.

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Kangshu Technology is a leading supplier of switching power solutions for PCS, smart home appliances, smartphones, servers and network equipment. In recent years, Kangshu has also accelerated its investment in clean and efficient energy solutions for electric vehicles and solar farms, making Kangshu a comprehensive power technology expert from power generation and storage to efficient power supplies. The company’s mission is to support customers by providing competitive advantage and uncovering new opportunities in today’s smart, already-available, and data-intensive world, while fostering sustainable collaboration with supply chains, strategic partners, and customers.

Xu Jieli, chairman of Kangshu, said that the advent of the 5G era has accelerated the development of innovative applications in various industries and further promoted the promotion of the power industry. Enterprises of both sides are highly complementary in various types of product portfolios. After the merger and acquisition, enterprises will integrate and optimize resource allocation and improve comprehensive efficiency, which will enable enterprises to create more competitive advantages in the changeable market environment.

In the context of the world’s pursuit of emission reduction, consumers are more concerned than ever about the power efficiency of electronics, and so are enterprises and data centers. In addition, electric vehicles have entered a period of rapid growth, and the development of high power and high conversion efficiency is also an inevitable trend. Kangshu said that with the deep integration of ABB’s power conversion technology, the company will accelerate the development of new technologies, optimize the product portfolio, and provide customers with multiple services.