ABB has announced the acquisition of Siemens’ wiring accessories business in China as part of its efforts to expand its market reach within smart buildings. The specific financial details of the acquisition were not disclosed, but the move is expected to complement ABB’s regional customer offering.
The acquisition includes a business that specializes in wiring accessories, smart home systems, smart door locks, and other home automation products. With sales exceeding $150 million in 2023, the business employs approximately 350 people. The acquisition is set to be finalized within the next 12 months.
By acquiring this business, ABB gains access to a distribution network spanning 230 cities in China. This will provide additional expertise from regional sales, manufacturing operations, and management teams. The move underscores ABB’s commitment to expanding its presence in the smart buildings sector in China.
This strategic investment by ABB positions the company for further growth and success in the market. With this acquisition, ABB aims to expand its product portfolio and enhance its capabilities in providing integrated solutions for smart buildings in China.
