Siemens to buy KACO new energy's inverter business

German industrial giant Siemens AG (ETR:SIE) said today it will acquire the string inverter business of power electronics maker KACO New Energy GmbH, without disclosing the financial terms of the deal.

Siemens noted that the transaction will not include the project development and engineering, procurement and construction (EPC) activities of KACO. Completion is subject to regulatory clearance and is scheduled for the first half of the year.

Neckarsulm-based KACO New Energy currently offers a full range of inverters, from units designed for homes to complete systems for megawatt-scale solar projects.

This purchase will bolster Siemens’ portfolio in attractive growth segments at the grid edge, according to Jean-Christoph Heyne, Head of Siemens' new Future Grids business.

“Our new Smart Infrastructure Operating Company comes into operation on April 1, 2019 where our strengths in electrification and buildings will enable us to thrive in the market and continue to expand in the areas of decentral energy, renewables, storage and electric vehicle charging infrastructure," Heyne commented.

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