Amber unit buys out Power-One in $18.5M all-stock deal
What's the deal? Amber Enterprises IndiaDealroom has a profile for this one. Try Dealroom →'s subsidiary, IL Jin ElectronicsDealroom has a profile for this one. Try Dealroom →, is acquiring the remaining 40% of Power-One Micro Systems for about US$23.9M (roughly $18.5 million). The deal, effective October 18, 2026, makes the power and energy firm a wholly owned subsidiary.
How it's structured: IL Jin will pay no cash. Instead, it issues 176,000 compulsorily convertible preference shares to Power-One's sellers, who include managing director Ramanna Rajesh Mayasandra and related parties — classifying the transaction as a related-party deal on an arm's length basis.
Why now? The purchase completes a consolidation that began in August 2025, when IL Jin bought 60% of Power-One for US$35.6M. That acquisition brought solar inverters, battery storage, uninterruptible power supplies, and EV charging into the Amber group.
What's the endgame? Amber is pushing its electronics division beyond contract manufacturing into higher-value components and energy products. The company reported 49% electronics-division revenue growth in FY26 and has also raised its stake in PCB maker Ascent CircuitsDealroom has a profile for this one. Try Dealroom →.
What could go wrong? Power-One's turnover grew from US$25.1M in FY24 to US$36.7M in FY26, suggesting momentum. But full ownership alone does not guarantee the business will deliver returns.
The signal: By taking total control through a share swap rather than cash, Amber tightens its bet on renewable energy and storage — betting that owned components, not just assembly, drive its next phase of growth.
Read more: investywise.com
Image credit: Generated with Gemini
