1. ABB will acquire Siemens’ Wiring Accessories business in China, broadening its market reach and complementing its regional customer offering within smart buildings.
2. The acquisition includes wiring accessories, smart home systems, smart door locks, and other home automation products under a licensing agreement to continue with the Siemens brand.
3. The deal provides access to a wide distribution network across 230 cities in China, bringing in expertise from regional sales, manufacturing operations, and management teams.
ABB has signed an agreement to acquire Siemens’ Wiring Accessories business in China, expanding its market reach and customer offerings in smart buildings. The acquisition will include wiring accessories, smart home systems, and other automation products under the Siemens brand through a licensing agreement. ABB will also gain access to a wide distributor network across 230 cities in China, enhancing its presence in the region. The acquisition is expected to be margin accretive and close within the next twelve months, with financial terms undisclosed.
Mike Mustapha, President of ABB Electrification’s Smart Buildings Division, emphasized the strategic focus on growth in China through this acquisition, allowing ABB to offer a full range of building automation and energy distribution solutions. ABB is a technology leader in electrification and automation, aiming for a more sustainable future with innovative solutions. With over 140 years of experience and more than 105,000 employees worldwide, ABB is dedicated to driving industrial transformation through engineering expertise and software optimization.
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