Zurich, Switzerland - July 25, 2014 - ABB, the leading power and automation group, announced today it has agreed to acquire Spirit IT of Eindhoven, Netherlands, to add a new line of high-performance liquid flow computers, SCADA and custody transfer solutions to ABB's leading measurement business for the oil and gas industry.
Spirit IT designs and sells liquid flow measurement and supervisory solutions for use in oil and gas applications. Its liquid flow computers and software deliver greater accuracy and control for well-pad automation, transportation and custody transfer applications.
Spirit IT's employees will join the global Measurement Products business unit in ABB's Process Automation division. Terms of the deal are not being disclosed but the transaction is expected to close in the fourth quarter of 2014.
"The addition of Spirit IT's products to ABB's Measurement Products portfolio will enable us to offer a more comprehensive automation solution for liquids and gas," said Veli-Matti Reinikkala, head of ABB Process Automation division. "The Spirit IT portfolio adds the liquid measurement component to ABB's industry leading gas measurement and automation product line. This combined offering will deliver comprehensive expertise and market strength to customers and provide new opportunities for growth in the oil and gas segment."
ABB's Measurement Products business unit (www.abb.com/measurement) is among the world's leading manufacturers and suppliers of instrumentation and analyzers. With thousands of experts around the world and high-performance technology, ABB's team is dedicated to making measurement easy for its customers.
"ABB offers tremendous opportunity for Spirit IT's flow computer technology to reach a wider range of applications in the global market," said Harry Kok, President, Spirit IT. "In addition to helping Spirit IT broaden its product line to address new opportunities, this acquisition will also provide a great opportunity for our employees to expand their career options in a much larger global organization."
ABB (www.abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 145,000 people.
About Spirit IT
By providing innovative products and high-quality services, Spirit IT (www.spiritit.com) aims to provide leading automation solutions for oil and gas measurement. Spirit IT designs its products to be extremely accurate, reliable and to provide relevant information in an easy-to-understand way.