ABB isn’t satisfied with the $9-billion-and-counting it has spent buying companies over the past few years.
CEO Joe Hogan said the Swiss grid giant is still looking for acquisitions to “fill blank spots in automation and industrial control technology,” Reuters reported Monday.
While Hogan didn’t get into specifics, that sounds like ABB wants to move into the smart-building space. We’ve seen competitors like Schneider Electric, Siemens and General Electric buying up parts and pieces of the overall grid architecture as it extends into buildings – industrial motors and controls, low and medium-voltage building power equipment, and networks and software to control it all.