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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  ABB Ltd    ABBN   CH0012221716

ABB LTD

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ABB : completes acquisition of Spirit IT (2014 11 07)

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11/09/2014 | 07:09pm EST

2014-11-04 - Adds innovative liquid flow computers and software for oil and gas applications, ABB boosts its offering in smart metering and control for custody transfer of oil and gas between operators.

Zurich, Switzerland - November,4th 2014 - ABB, the leading power and automation group, announced today it completed its acquisition of Spirit IT of Eindhoven, Netherlands. The acquisition, announced July 25, adds a new line of high-performance liquid flow computers, SCADA and custody transfer solutions to ABB's leading measurement business for the oil and gas industry. Spirit IT (www.spiritit.com) designs and sells liquid flow measurement and supervisory solutions for use in oil and gas applications. Its liquid flow computers and software deliver greater accuracy and control for well-pad automation, transportation and custody transfer applications. The acquisition complements ABB's Measurement Products portfolio by enabling the company to offer a more comprehensive automation solution for liquids and gas. It adds the liquid measurement component to ABB's industry leading gas measurement and automation product line and provides new opportunities for growth in the oil and gas segment. 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.

ABB's Measurement Products business unit (www.abb.com/measurement) is among the world's leading manufacturers and suppliers of instrumentation and analyzers. With thousands of experts around the world and high-performance technology, ABB's team is dedicated to making measurement easy for its customers.

ABB (www.abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 150,000 people.



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Ulrich Spiesshofer President & Chief Executive Officer
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