| Power-One Receives $60 Million From Silver Lake Sumeru |
| Friday, April 24, 2009 5:38:00 AM PDT | PrivateEquityI Staff |
Camarillo, California -- Power conversion company Power-One (NASDAQ: PWER) announced that it has agreed to minority investment by Silver Lake Sumeru in the amount of $60 million.
According to the terms of the deal, Silver Lake will invest $23.6 million in convertible preferred stock and $36.4 million in senior convertible notes due 2019.
Power-One cells power conversion and power management solutions for alternative/renewable energy, data storage and servers, wireless communications, medical diagnostics and a number of other applications.
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