ABB builds links to the New Economy
Swiss-based technology company ABB, is to buy Energy Interactive of the United States. The California-based company provides information software and services to the US energy market.
Energy Interactive's products include energy billing systems, web-based residential energy auditing, and software to analyse energy loads, consumption patterns and pricing. The business will be renamed ABB Energy Interactive.
The purchase takes ABB into the US retail power market where deregulation is expected to fuel long-term growth.
"This is a strategic opportunity and a good fit to ABB," said Chief Executive, Göran Lindahl. "ABB is gaining an early foothold in the retail market."
ABB has been increasingly refocusing its business on the information technology sector, as it builds stronger links to the so-called new economy.
The price of the acquisition was not disclosed.
by Tom O'Brien
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