Swiss electrification giant ABB Inc. on June 30 closed a $2.6 billion deal to buy GE Industrial Solutions, reportedly with plans to keep the unit’s headquarters in Atlanta.
The company sees the acquisition as a strategic move to undergird its strengths in power generation globally and deepen its presence in the North American market.
For Atlanta, the deal means a more prominent footprint for a Swiss company that already sustained a presence in the city. The transaction was announced last Sept. 25.
The Atlanta Business Chronicle reported Monday that the company had 90 positions available on its website but hadn’t announced how many people it would hire as a result of the move.
Not everything will turn over: GEIS CEO Stephanie Mains will join ABB as managing director of a new unit called Electrification Products Industrial Solutions. ABB also acquires long-term rights to the GE brand and aims to complement the installed base of GEIS products with its digitization solutions.
“The product portfolios of GE Industrial Solutions and ABB are highly complementary. Together we will have a comprehensive combined portfolio, as well as an expanded global footprint, sales force and distribution network,” said Tarak Mehta, head of the Electrification Products division, to which Ms. Mains and EPIS will report.
ABB overall has more than 135,000 employees and a presence in 100-plus countries.
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