ABB to acquire GE Industrial Solutions for $2.6B

ABB announced that they acquire GE Industrial Solutions today. The acquisition is part of a plan to extend and rationalize the product and services line worldwide and in North America. ABB is betting on improving the margin of GE Industrial Solutions division. They also plan to optimise synergies between the different division.

GE IS is producing circuit breakers, UPS, low voltage systems, medium power switchgear, DC power systems together with Telecom and custom power supplies. About 60% of the division sales are in North America. It is headquarted in Atlanta, Georgia, and has 13 500 employees. ABB keeps going with its acquisition strategy. The plan is to strengthen its position in the US. Previous ABB acquisitions included Baldor or Power-One, among other companies.

Acquisition’s closing is expected H1 2018.

Source: Press Release