ABB Snatches IKS

Continuing on the acquisition trail, ABB Ltd. followed up its blockbuster Baldor deal with announcement of a much smaller deal.

ABB said on Dec. 6 that it has agreed to acquire the business of Insert Key Solutions Inc. (IKS, www.insertkey.com), Chadds Ford, Pa., a privately owned software provider to the power industry. IKS has an extensive customer base in the thermal and nuclear power sectors, and a staff of 50 people, ABB said. Terms were not disclosed.

ABB will add IKS’ solutions to its Ventyx software portfolio, obtained last year with the acquisition of Ventyx Inc. (www.ventyx.com), an Atlanta-based software supplier to the energy industry. That deal was valued at more than $1 billion when it was announced in May 2010. The combination will build on industry-leading asset lifecycle management software from Ventyx, ABB said, creating a comprehensive solution set for asset and work management, maintenance optimization, and equipment reliability.

ABB
www.abb.com

Insert Key Solutions Inc., IKS
www.insertkey.com

Ventyx Inc.
www.ventyx.com

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