ABB to acquire GE Industrial Solutions

ABB has announced the acquisition of GE Industrial Solutions, GE’s global electrification solutions business. 

According to the Presentation provided by the company, the acquired electrification solutions business also covers engineered and configured electrification solutions, which include distribution and dry-type transformers.

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

The acquisition deal is worth $2.6 billion.

Source: ABB