The ABB Group, a technology company headquartered in Zurich, Switzerland, has agreed to purchase Atlanta-based software company Ventyx Inc. for more than $1 billion.
Ventyx specializes in providing software to energy and utility companies. One product allows utilities to forecast electricity needs, including power made from renewable energy.
Acquiring Ventyx triples the energy management software market available to ABB, according to a company news release.
Ventyx operates in more than 40 countries and has 900 employees. The ABB Group operates in about 100 countries and employs more than 117,000 people.
For more on Ventyx, click here. For more on ABB, click here.