Tokyo (SCCIJ) – After a successful restructuring, the industrial group ABB based in Switzerland has set new targets and is switching to acquisition mode. In January alone, three innovative companies were taken over.
The industrial group ABB bought three companies in January (© ABB).
Better environment
In the medium term, ABB now aims to achieve sales growth of between 5% and 7%. The operating margin is now expected to be between 16% and 19%. The move is not entirely unexpected, as it also reflects a much better market environment than just a few years ago, writes the Swiss financial biweekly Finanz und Wirtschaft.
Behind these new business chances is the trend towards decarbonization: the conversion to sustainable machine and automation technology, gas turbines replaced by electric motors, new charging infrastructure for electric cars, electronics for (new) sustainable data centers, and the demand for high-performance batteries. Added to this are the major government infrastructure funding programs in the USA.
In acquisition mood
In January, ABB acquired the Swiss start-up Sevensense, a leading provider of AI-enabled 3D vision navigation technology for autonomous mobile robots (AMRs). Sevensense was founded in 2018 as a spin-off from the Swiss Federal Institute of Technology, ETH Zurich.
“Each mobile robot, equipped with vision and AI, scans a unique part of the building; collectively these robots complement each other’s view to form a complete map, enabling them to work autonomously in a rapidly changing environment,” said Sami Atiya, President, ABB Robotics and Discrete Automation Business Area.
The acquisition follows ABB’s minority investment in Sevensense after it joined the company’s innovation ecosystem in 2021. ABB will integrate Sevensense’s technology into the company’s Autonomous Mobile Robots portfolio.
Only a week later, ABB bought a majority of software service provider Meshmind to expand its research and development capabilities in AI, Industrial Internet of Things, and machine vision. Through this acquisition, ABB will integrate engineering talent, AI, and software knowledge to form a new global R&D hub to further accelerate the development of innovative automation solutions within its Machine Automation division.
Water management
Additionally, through the acquisition of the Canadian company Real Tech, ABB aims to expand its strong presence in the water segment and complement its portfolio with optical sensor technology critical for the age of smart water. Real Tech is a market leader in real-time water quality monitoring and testing with more than 10,000 installed solutions around the world, helping ABB grow with the global push for sustainable water management.
Already in November, ABB opened the new “Emotion” multipurpose building at its Untersiggenthal location. Following a two-year construction period, it offers 500 modern workplaces. The new 45 million francs center of excellence is ABB’s largest investment in Switzerland in over a decade and emphasizes the commitment to its headquarters country.
Text: SCCIJ with ABB material
