ABB: agrees to buy a Siemens Gamesa business
(CercleFinance.com) - ABB announces that it has signed an agreement to acquire the power electronics business of Gamesa Electric in Spain, a subsidiary of Siemens Gamesa, in order to strengthen its position in the growing market for high-power renewable energy conversion technologies.
This acquisition will significantly expand ABB's product and service offering for original equipment manufacturers (OEMs) and end-users in the renewable energy sector.
The transaction is subject to regulatory approvals and is expected to close in the second half of 2025.
Its financial terms were not disclosed.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
This acquisition will significantly expand ABB's product and service offering for original equipment manufacturers (OEMs) and end-users in the renewable energy sector.
The transaction is subject to regulatory approvals and is expected to close in the second half of 2025.
Its financial terms were not disclosed.
Copyright (c) 2024 CercleFinance.com. All rights reserved.