On Monday, it was announced that Swiss power-grids maker ABB will buy General Electric's industrial-solutions business for $2.6 billion. ABB today announced the acquisition of GE Industrial Solutions, GE’s global electrification solutions business. GE Industrial Solutions has deep customer relationships in more than countries and an es-tablished installed base with strong roots in North America, ABB’s biggest market. ABB is buying GE Industrial Solutions, GE’s electrical systems business, for $2.6bn, securing its second position in the $32bn global market, behind Schneider Electric, and ahead of Eaton and Siemens. October 1, 2017. It also expands ABB’s access to the North American market via GE’s large installed base and extensive distribution networks. ABB has announced the acquisition of GE Industrial Solutions, GE’s global electrification solutions business. Industrial Solutions empowers smarter business operations by connecting equipment, software and services to protect, control and optimize assets within electrical infrastructures. Print. 01:52 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. 271. Facebook. GE Industrial Solutions has deep customer relationships in more than 100 countries and an established installed base with By Dipo Olowookere Swedish-Swiss multinational corporation headquartered in Zürich, ABB, has announced the acquisition of GE Industrial Solutions, GE’s global electrification solutions business. ABB and GE Industrial Services merger: a $2.6bn deal to revamp GE division General Electric Company (NYSE:GE) – market cap as of 06/10/2017: $211.2bn ABB Ltd (SWX: ABBN) – market cap as of 06/10/2017: $53.3bn Introduction On September 25, 2017, ABB announced the acquisition of GE Industrial Solutions for a cash consideration of $2.6bn. ABB will retain the GE Industrial Solutions brand and management team and build upon its experienced sales force. ABB today announced the acquisition of GE Industrial Solutions, GE’s global electrification solutions business. GE Industrial Solu- ABB has announced the acquisition of GE’s Industrial Solutions business, which expands ABB’s existing presence in the space while divesting a non-core segment of the GE portfolio. July 20, 2018 — ABB has completed its acquisition of GE Industrial Solutions (), GE’s electrification solutions business. ABB is buying General Electric's Industrial Solutions unit for $2.6 billion to expand its reach in North American markets, the Swiss engineering company said on Monday. The two companies also has a sourcing agreement. WhatsApp. ABB has announced the acquisition of GE Industrial Solutions, GE’s global electrification solutions business for $2.6 billion (A$3.28 billion). ABB buys GE's industrial solutions unit for $2.6 billion ABB CEO Ulrich Spiesshofer says that for his company, GE's industrial solutions unit is "absolutely right in the sweet spot." GEIS is the company’s global electrification business. Combining ABB & GE Industrial Solutions leading edge technologies offers you a new comprehensive one line construction package. Ask an Expert Best of Both Resource Center Taking care of business together. Available today to meet your current and future project needs. ABB announced the acquisition of GE Industrial Solutions, GE’s global electrification solutions business.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. 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. Zurich-based ABB has completed its acquisition of GE Industrial Solutions (GEIS) in a deal worth about $2.6 billion. Sarah Priestley: GE has also been in the news in the past week. ABB has announced the acquisition of GE Industrial Solutions, GE’s global electrification solutions business. With a history of excellence stretching back more than 130 years, ABB’s success is driven by about 110,000 talented employees in over 100 countries. "GE Industrial Solutions isn't in top shape, so ABB has its work cut out for it," said Zuercher Kantonalbank analyst Richard Frei. ABB said it would finance the deal -- likely its last for some time -- with cash and did not need to raise equity capital. The GE products include circuit breakers, switchgear, components for lighting control and power supply equipment for facilities including data centers. Technology giant ABB today announced the acquisition of GE’s global electrification solutions business for $2.6billion. ABB buys GE business for $2.6 billion in bet it can boost margins. Some analysts said the price was surprisingly high given the GE business's low profitability. The $2.6 billion transaction was announced on September 25, 2017, and is expected to be accretive to operational EPS in the first year. ABB today announced the acquisition of GE Industrial Solutions, GE’s global electrification solutions business. ABB, which is based in Zurich, can use the deal to broaden its electrification business globally, especially in North America. Swiss engineering firm ABB Ltd.(ANN.L,ABB) said Monday that it agreed to buy GE Industrial Solutions, GE's global electrification solutions business, for $2.6 billion.GE Industrial Solutions is headquartered in Atlanta, Georgia, and has about 13,500 employees around the world. GE Industrial Solutions has deep customer relationships in more … www.abb.com ABB’s Electrification Business Area is a global leader in electrical products and solutions, operating in more than 100 countries, with over 200 manufacturing sites. Share. 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