The Switch supplies megawatt-class permanent magnet generator and full-power converter packages for wind and other emerging power businesses, including solar and fuel cell applications.
AMSC says the acquisition will help it to diversify its customer base and support growth to $1bn in annual revenues with sales to wind turbine manufacturers in China, Europe, Korea and the US.
It will pay about $186m in cash and the remainder in the form of shares based in part on the average closing price of AMSC’s stock prior to the closing.
