ABB said to pay $2 billion for B&R to plug gap in automation

By Bloomberg

Apr 04, 2017

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ABB Ltd. pledged to hunt for more acquisitions after purchasing an Austrian company that makes industrial software and hardware used for assembly lines and even self-driving tractors, its first significant takeover since 2013.

The deal values Bernecker & Rainer Industrie-Elektronik GmbH at almost $2 billion, said a person familiar with the matter, who asked not to be identified as the figure hasn’t been disclosed.

“Strategically, this is the most important deal ABB has ever done,” Chief Executive Officer Ulrich Spiesshofer said on a call with reporters. 

Read the full story at bloomberg.com.

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