Woodward to acquire IDS

Energy controls manufacturer Woodward, Inc., Fort Collins, Colo., has reached a definitive agreement to acquire Switzerland-based Integral Drive Systems AG and its European companies, including their respective holding companies (IDS), as well as the key assets of IDS’ business in China, for a total amount of approximately $36 million in cash. IDS is a manufacturer of power electronic systems predominantly in utility scale wind turbines and photovoltaic plants. Its products are also used in offshore oil and gas platforms, energy storage and distribution systems and a variety of industrial applications.