SHARE
COPY LINK

ENGINEERING

Swedish engineers buy French software firm

ABB took another step into the building-automation market by purchasing Toulouse-based Newron System for an undisclosed sum, the Swiss-Swedish engineering giant announced on Monday.

Swedish engineers buy French software firm

“We are buying state-of-art software and know-how,” ABB spokesman Hans-Georg Krabbe said in a statement.

Toulouse-based Newron System has annual sales near the tune of $10 million worth of software, which enables devices, such as blind controls and lights, to communicate with each other and to be managed centrally.

The acquisition supports ABB’s strategy in the growing automation market for buildings, which is to expand its market reach and offering for channel partners. Newron System’s software complements ABB’s product range by adding flexible automation solutions to the offering. The company said Newron would be integrated into the company’s Low Voltage Products (LP) division.

“Newron System’s premium building-automation software solutions will gain worldwide reach through ABB’s broad sales network,” said LP head Hans-Georg Krabbe, adding that the purchase was also set to add products to the company’s offering of building-automation solutions.

Newrom System’s managing directors, Serge Le Men and Daniel Zotti, welcomed the buy, stating it would help Newron “extend its reach”.

The Local/at

Follow The Local on Twitter

Member comments

Log in here to leave a comment.
Become a Member to leave a comment.

ENGINEERING

ABB board unanimous in pick of CEO

Swiss-Swedish engineering giant ABB has appointed a new CEO, who has a background in oil and gas, utilities, telecoms and automotive industries and who was a key player in the acquisition of Baldor.

ABB board unanimous in pick of CEO

ABB’s board chose to promote its head of Discrete Automation and Motion (DM) division, Ulrich Spiesshofer, to take the reins and replace outgoing CEO Joe Hogan.

“He has led a doubling of the division’s revenues by organic and inorganic means, and the integration of Baldor, ABB’s largest ever acquisition,” the Zurich-based company said in a statement about Spiesshofer’s work at the DM division since 2009.

“ABB has developed a strong bench of talent: I am extremely pleased that the new CEO comes from within the company, and brings a solid track record and deep knowledge of the portfolio,” said ABB Chairman Hubertus von Grünberg.

The company credited Spiesshofer helping it expand into new business areas such as e-mobility and uninterruptible power supplies (UPS), as well as to better balance the business geographically.

Before joining ABB, Spiesshofer spent three years at Roland Berger Strategy Consultants and 11 years at A.T. Kearney management consultants, where he built successful consulting businesses in industries including oil and gas, utilities, telecoms and automotive, in Europe, Asia and the Americas.

He has a master’s degree in Business Administration and Engineering, and a PhD in Economics, both from the University of Stuttgart, Germany.

Industry observers hailed the choice, which they said would ensure a level of continuity at the helm of the company.

The markets also appeared to welcome the announcement, pushing ABB’s share price up 2.97 percent to 20.79 Swiss francs a piece in mid-morning trading, as the Swiss stock exchange’s main index rose just 0.86 percent.

The Local/AFP/at

Follow The Local on Twitter

SHOW COMMENTS