Electric is to purchase Xantrex Technology, Inc. in an all-cash
transaction valued at approximately $412 million. Xantrex is a top 3
global player in the solar and wind inverter market and number 1 in the
U.S. As a condition to the sale, Xantrex will divest its programmable
power business to AMETEK, Inc. for $120 million in cash.
“These transactions maximize value for Xantrex’s shareholders,” said Mossadiq S. Umedaly (pictured), Xantrex’s Chairman. “Becoming a part of Schneider-Electric is an exciting development for our business. Schneider Electric’s outstanding global distribution, service and supply chain infrastructure combined with our world class technology and products will enable us to deliver more of our products to customers worldwide, making this a powerful combination. In addition, our programmable power division is highly complementary to AMETEK’s Power Instruments business.”
“This acquisition strongly enhances our position in Energy Management through the development of integrated and complete solutions which further meet customers’ needs for global Energy Efficiency solutions,” commented Jean-Pascal Tricoire, Chairman of the Management Board and CEO of Schneider Electric.
“The likely acquisition by Schneider Electric highlights the attractiveness and potential of the solar inverter market,” said Ash Sharma, Research Director at IMS Research on reaction to the planned acquisition. “Xantrex’s strong position in North America and also in parts of Europe makes it a particularly attractive target for acquisition, especially given that the USA solar inverter market is anticipated to grow five-fold over the next five years.”
According to IMS Research, the global solar inverter market will be worth more than $2 billion by 2010, sparking other companies to enter the market, resulting in an expected phase of acquisitions and consolidation.
Unlock unlimited access for 12 whole months of distinctive global analysis
Photovoltaics International is now included.
- Regular insight and analysis of the industry’s biggest developments
- In-depth interviews with the industry’s leading figures
- Unlimited digital access to the PV Tech Power journal catalogue
- Unlimited digital access to the Photovoltaics International journal catalogue
- Access to more than 1,000 technical papers
- Discounts on Solar Media’s portfolio of events, in-person and virtual