ABB Boosts Custody Transfer Business With Spirit IT Purchase

Nov. 6, 2014
With its acquisition of Netherlands-based Spirit IT complete, ABB adds high-performance liquid flow computers and software to its offerings for oil and gas custody transfer.

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.

About the Author

Aaron Hand | Editor-in-Chief, ProFood World

Aaron Hand has three decades of experience in B-to-B publishing with a particular focus on technology. He has been with PMMI Media Group since 2013, much of that time as Executive Editor for Automation World, where he focused on continuous process industries. Prior to joining ProFood World full time in late 2020, Aaron worked as Editor at Large for PMMI Media Group, reporting for all publications on a wide variety of industry developments, including advancements in packaging for consumer products and pharmaceuticals, food and beverage processing, and industrial automation. He took over as Editor-in-Chief of ProFood World in 2021. Aaron holds a B.A. in Journalism from Indiana University and an M.S. in Journalism from the University of Illinois.

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