Investment Fund Provides $60 Million to Power-One

Power-One Inc. received $60 million in new capital from Silver Lake Sumeru, an investment fund for middle-market technology companies. The Camarillo-based developer and manufacturer of power conversion products will use the money to fund strategic initiatives and provide for working capital needs and general corporate purposes. The relationship between Power-One and Silver Lake Sumeru creates a more effective capital structure and position us to deliver long-term shareholder value, said company CEO Richard Thompson.