ABB acquires GE Industrial Solutions

New Delhi, September 25 

Swiss engineering group ABB today announced the acquisition of GE Industrial Solutions, GE’s global electrification solutions business for $2.6 billion.

GE Industrial Solutions has deep customer relationships in more than 100 countries and an established installed base with strong roots in North America, ABB’s biggest market, ABB said.

The GE Industrial Solutions is headquartered in Atlanta, Georgia, and has about 13,500 employees around the world. In 2016, it had revenues of about $2.7 billion. 

ABB CEO Ulrich Spiesshofer said: “With GE Industrial Solutions, we strengthen our Number 2 position in electrification globally and expand our access to the attractive North American market.” — PTI