News Article
Bosch Closes Acquisition Of Voltwerk Electronics GmbH
Following the approval of the antitrust authorities, the Bosch Group has closed the acquisition of voltwerk electronics GmbH, a supplier of electronic components and software solutions for photovoltaic arrays.
The agreement to purchase was signed in December 2011. It has been agreed that the purchase price will not be disclosed. voltwerk electronics GmbH will become part of Bosch Power Tec GmbH by the end of 2012. The Bosch subsidiary, which is based in Böblingen, was founded at the start of 2011 and is pushing the Bosch Group's inverter business forward. As a result of the acquisition, Bosch Power Tec now employs some 130 associates at locations in Bal Vilbel, Hamburg, and Böblingen.
"The purchase of voltwerk electronics is very significant for us. Not only have we gained additional associates with a high level of expertise and experience, the acquisition has enabled us to expand our product portfolio in the best possible manner," said Dr. Andreas Stratmann, the general manager of Bosch Power Tec. Voltwerk electronics is an established supplier of a broad range of string and central inverters and accessories. From the second half of 2012, the company will also offer an hybrid solution for existing inverters and battery storage.
Bosch Power Tec engineers are currently working on a new generation of string inverters. "We will now benefit from our combined strengths and want to grow in the photovoltaics markets in all the major global regions."
Inverters are playing an increasingly important role, not only in the field of renewable energy, but also for e-mobility. In electric vehicles, a conversion process is also needed so that the electric motor can use the direct current from the battery. Furthermore, when recuperating brake energy and feeding it back into the battery, inverters and their sophisticated power electronics are needed once more.
