ABB: completes acquisition in China
(CercleFinance.com) - ABB has announced that it has completed the acquisition of Siemens' Wiring Accessories business in China.
The business generated over $150m in revenues in 2024. It includes a strong distribution network in 230 cities and has 350 qualified employees. Financial terms of the transaction were not disclosed.
The business will be accretive to ABB and will expand ABB's portfolio with wiring accessories, smart home systems, smart door locks and other peripheral home automation products, which will continue with the Siemens brand under the terms of a licensing agreement.
ABB said that this acquisition strengthens ABB's position and commitment to growth in the Chinese wiring accessories market, complementing our portfolio of smart building technologies and enabling us to meet customers' changing needs in creating safer, smarter and more sustainable buildings.
We are perfectly positioned to offer a complete range of wiring accessories, home automation, distribution and energy management, to meet major local challenges such as rapid urbanization, energy transition, building electrification, decarbonization and the advancement of AI and digitization, it adds.
Copyright (c) 2025 CercleFinance.com. All rights reserved.
The business generated over $150m in revenues in 2024. It includes a strong distribution network in 230 cities and has 350 qualified employees. Financial terms of the transaction were not disclosed.
The business will be accretive to ABB and will expand ABB's portfolio with wiring accessories, smart home systems, smart door locks and other peripheral home automation products, which will continue with the Siemens brand under the terms of a licensing agreement.
ABB said that this acquisition strengthens ABB's position and commitment to growth in the Chinese wiring accessories market, complementing our portfolio of smart building technologies and enabling us to meet customers' changing needs in creating safer, smarter and more sustainable buildings.
We are perfectly positioned to offer a complete range of wiring accessories, home automation, distribution and energy management, to meet major local challenges such as rapid urbanization, energy transition, building electrification, decarbonization and the advancement of AI and digitization, it adds.
Copyright (c) 2025 CercleFinance.com. All rights reserved.