- Advances ABB’s leadership in wiring accessories and smart building technologies in China
- Acquisition provides access to expansive distributor network, extending ABB’s reach across China and Southeast Asia, and further into the retail market
- Enhances ABB’s portfolio, to address the growing demand for safe, reliable and energy-efficient building solutions
ABB today announced it has completed the acquisition of Siemens' Wiring Accessories business in China, to broaden ABB’s market reach and complement its regional customer offering within smart buildings. Generating over $150 million in revenue in 2024, the business adds a comprehensive product portfolio, a robust distribution network across 230 cities, and 350 skilled employees. The transaction was announced on May 17, 2024, and financial terms of the transaction were not disclosed.
The business will be margin accretive to ABB and expands ABB’s portfolio with wiring accessories, smart home systems, smart door locks and further peripheral home automation products, which will continue with the Siemens brand under terms of a licensing agreement. With a strengthened product range and distribution network, ABB is well positioned to deliver integrated, innovative solutions that modernize buildings, improve energy efficiency, and tackle the global challenge of reducing carbon emissions.
Mike Mustapha, President of ABB Electrification’s Smart Building Division said: “This acquisition strengthens ABB’s position and commitment to growth in China’s wiring accessories market, complementing our smart buildings technologies portfolio and enabling us to meet evolving customer needs by creating safer, smarter and more sustainable buildings. We are perfectly positioned to offer a full range of wiring accessories, home and building automation, energy distribution and management solutions, to address major local challenges such as rapid urbanization, energy transition, electrification of buildings, decarbonization and advancing AI and digitalization.”
ABB is a global technology leader in electrification and automation, enabling a more sustainable and resource-efficient future. By connecting its engineering and digitalization expertise, ABB helps industries run at high performance, while becoming more efficient, productive and sustainable so they outperform. At ABB, we call this ‘Engineered to Outrun’. The company has over 140 years of history and around 110,000 employees worldwide. ABB’s shares are listed on the SIX Swiss Exchange (ABBN) and Nasdaq Stockholm (ABB). www.abb.com
