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.comInsert
Key Solutions Inc., IKSwww.insertkey.comVentyx Inc.www.ventyx.com
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