ABB acquires part of KEYMILE Group
ABB confirms the acquisition of KEYMILE's communications network in a deal due to complete Q3 of 2017
ABB have confirmed the acquisition of the mission-critical communications network division of the KEYMILE group.
The deal, which is due to complete in the third quarter of 2017, is set to strengthen the company’s digital grid portfolio and software focus. With the buyout, comes with it: key products, software and service solutions, as well as s well as a certified EMC lab and R&D expertise. All in line with ABB’s digital offering: ABB Agility, by facilitating the maintenance of complex digital electrical grids by adding reliable communications technologies.
“Reliable telecommunications become increasingly important as the number of connected devices increases. While digitalisation provides opportunities for operational efficiencies and asset optimization, it also brings new complexities in maintaining mission-critical operations,” said Rolf Unterberger, CEO of KEYMILE.
Once the sale is complete it is expected that KEYMILE will then focus on its R&D investments in the broadband sector, expanding its portfolio and introducing new technologies in the area of passive optical networks. Also the 120 employees of the acquired business will join the grid automation business unit of ABB’s power grids division.
Though both parties have agreed not to disclose the amount agreed for the deal, senior management from both companies have expressed enthusiasm around the acquisition.
Claudio Facchin, president of ABB’s power grids division said: “ABB is a global leader in communication networks for utility customers. The acquisition of KEYMILE’s mission-critical communication business will strengthen this position and extend our market reach in the industrial, transportation and infrastructure sectors. This move supports our growth plans and digitalisation push as part of our ABB Ability offering, as we strengthen our position as the partner of choice in enabling a stronger, smarter and greener grid.”
“We are very pleased that industry leader ABB will acquire our mission-critical communication networks business, which will enable the continued development of cutting-edge products, software and service solutions for grid operations” said Rolf Unterberger, CEO of KEYMILE.