ABB buys GE Industrial Solutions for $2.6 billion

While GE Industrial Solutions will be integrated into ABB’s Electrification Products division, ABB will continue to use the GE brand. Products in the GE Industrial solutions range include transfer switches, DC power systems, and drives. 

ABB Electrification Products president, Tarak Mehta, said: “This acquisition strengthens our position as partner of choice for electrification globally and in North America. We look forward to working with GE Industrial Solutions’ and ABB’s customers and channel partners to create new opportunities in this highly attractive core market for our division.”

GE Industrial Solutions is headquartered in Atlanta, Georgia, and has roughly 13,500 employees around the world. In 2016, the business had revenues of approximately $2.7 billion (£2bn).

GE CEO John Flannery said: “ABB values our people, domain expertise, and our ability to operate in the segments where we have depth and experience. GE will also benefit through an expanded strategic supply relationship with ABB as the two companies work together.”

The deal is expected to complete next year, subject to regulatory approval.