ABB (ABB) Buys Ventyx For More Than $1 Billion

Posted by | # |
08:15:43 am on May 5, 2010

ABB has just announced that it is acquiring Ventyx, an energy management software provider, for more than $1 billion cash. The purchase is pending regulatory approvals and should be complete by the second quarter of 2010.

In a press release, Joe Hogan, ABB’s CEO, explained why purchasing Ventyx should be advantageous for ABB:

“The big advantage for energy companies, utilities and industrial customers is that they will now have a single supplier of enterprise-wide information technology platforms and power automation systems. The advantage for our shareholders is a cash-generating acquisition in an exciting growth market, with a strong management team, a highly complementary offering and geographic scope, and an attractive return on capital employed.”

===> Click Here For Your FREE ABB Analysis

Tags: , ,
If you enjoyed this post, please consider to leave a comment or subscribe to the feed and get future articles delivered to your feed reader.


No comments yet.

Leave a comment