IE Power, which was founded in 1985 and employs 24 people, provides high power inverters to a variety of mission critical applications, including solar, wind and battery energy storage. Terms of the transaction were not disclosed.
"This acquisition provides Eaton with strong design capabilities for high power inverters, an established product platform, and access to the rapidly growing utility solar inverter market," said Matt Lorenz, vice-president and general manager, Electrical Components Organization, Industrial Control Division. "When combined with our global capabilities, IE Power's robust and cost competitive inverter technology and powerful R&D capacity positions Eaton with one of the broadest solar inverter product portfolios in the industry."
Eaton has approximately 73,000 employees and sells products to customers in more than 150 countries. For more information, visit www.eaton.com.