Amber Group to acquire majority stake in Power-One Micro Systems

NEW DELHI: Amber Group, a homegrown contract manufacturer for HVAC and consumer electronics, has entered into definitive agreements for acquiring majority stake in Bengaluru-based Power-One Micro Systems-based Power-One Micro Systems.

Power-One is a manufacturer of solar inverters, uninterruptible power supplies (UPS), Battery Energy Storage Systems (BESS), EV chargers and other power and energy solutions.

“The transaction will enable the Amber group to foray into a rapidly growing segment of energy solutions including Solar inverter (on grid, off grid and hybrid), BESS, UPS, solar power plants and EV chargers and augment the Industrial segment of the Electronics Division of the Company,” the company said.