ABB has completed its acquisition of Spirit IT, based in Eindhoven, the Netherlands. The purchase, first announced near the end of July, adds a new line of high-performance liquid flow computers, SCADA and custody transfer solutions to ABB’s Measurement Products business for the oil and gas industry.
With more third-party service providers playing within the oil and gas segment, custody transfer has become a more important part of the business. And accurate measurements are vital.
The acquisition complements ABB’s Measurement Products portfolio with a more comprehensive automation solution for liquids and gas, noted Veli-Matti Reinikkala, head of ABB Process Automation division, when the acquisition was first announced. It adds liquid measurement to ABB’s gas measurement and automation product line, and provides new opportunities for growth in the oil and gas segment, boosting its offering in smart metering and control for custody transfer.
“ABB offers tremendous opportunity for Spirit IT’s flow computer technology to reach a wider range of applications in the global market,” said Harry Kok, president for Spirit IT. “In addition to helping Spirit IT broaden its product line to address new opportunities, this acquisition will also provide a great opportunity for our employees to expand their career options in a much larger global organization.”
Spirit IT’s employees will join the global Measurement Products business unit in ABB’s Process Automation division. Terms of the deal were not disclosed.