Bosch Buys Conergy's Voltwerk Renewable Energy Unit

Law360, New York (December 21, 2011, 4:57 PM EST) -- Germany-based Robert Bosch GmbH on Wednesday picked up Conergy AG’s solar-inverter subsidiary Voltwerk Electronics GmbH for an undisclosed sum, in a deal expected to help Bosch expand in the renewable energy sector.

Both Conergy and Bosch have signed a contract for the deal, which is subject to approval by antitrust authorities. Under the terms of the agreement, Conergy will maintain access to certain products through a long-term supply contract.

Voltwerk, which has around 100 employees, had sales of €68 million ($88.7 million) in 2010. Its portfolio...
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