Swiss-Swedish ABB makes US acquisition
ABB, the Swiss-based engineering group, has announced plans to take over Ventyx for one billion dollars.
This content was published on May 5, 2010 - 09:56
Based in Atlanta in the US, Ventyx designs software used for managing power networks.
Last year, Ventyx reported revenues of $250 million (SFr276 million). It employs 900 people and is active in more than 40 countries.
As ABB announced on Wednesday, it will pay cash for Ventyx. The American company currently belongs to Vista Equity Partners.
This acquisition will triple ABB’s energy management software market.
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