ABB agrees to acquire Spirit IT to build liquid flow computers
Power and automation group ABB announced its agreement 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 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 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,” head of ABB Process Automation division Veli-Matti Reinikkala said. ”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.”
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,” President of Spirit IT Harry Kok said. “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.”