ABB Snatches IKS

Continuing on the acquisition trail, ABB Ltd. followed up its blockbuster Baldor deal with announcement of a much smaller deal.

Jan 11th, 2011

ABBsaid on Dec. 6 that it has agreed to acquire the business ofInsert Key Solutions Inc.(IKS, www.insertkey.com), Chadds Ford, Pa., a privately owned software provider to the power industry. IKS has an extensive customer base in the thermal and nuclear power sectors, and a staff of 50 people, ABB said. Terms were not disclosed.

ABB will add IKS’ solutions to its Ventyx software portfolio, obtained last year with the acquisition ofVentyx Inc.(www.ventyx.com), an Atlanta-based software supplier to the energy industry. That deal was valued at more than $1 billion when it was announced in May 2010. The combination will build on industry-leading asset lifecycle management software from Ventyx, ABB said, creating a comprehensive solution set for asset and work management, maintenance optimization, and equipment reliability.

ABB
www.abb.com

Insert Key Solutions Inc.,IKS
www.insertkey.com

Ventyx Inc.
www.ventyx.com

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