ABB buys stake in Swedish software company

ABB invests to enlarge Industrial IT potential Keystone

The international power and technology group, ABB, has announced it is investing $10 million (SFr17.12 million) to buy a minority stake in the Swedish software maker, Industrial & Financial Systems.

This content was published on August 3, 2001 - 12:00

Under terms of the deal, ABB has acquired 3.7 per cent of IFS, which represents 1.8 per cent of the voting rights, through a direct share issue.

A statement from the group's headquarters in Zurich said the investment by ABB New Ventures strengthened an existing technical and commercial alliance between ABB and IFS.

For more than a year, IFS has been developing ways to integrate its business software, called IFS Applications, with ABB's Industrial IT platform.

ABB signed an agreement with IFS in January to resell IFS Applications components.

In the long term, cross licensing of systems between the companies is expected to decrease research and development costs for both partners.

swissinfo with agencies

This article was automatically imported from our old content management system. If you see any display errors, please let us know:

In compliance with the JTI standards

In compliance with the JTI standards

More: SWI certified by the Journalism Trust Initiative

Contributions under this article have been turned off. You can find an overview of ongoing debates with our journalists here. Please join us!

If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at

Share this story

Change your password

Do you really want to delete your profile?