ABB Expands Smart Buildings Offerings with $150 Million Acquisition of Siemens China’s Wiring Accessories Business

ABB has recently announced that it will acquire the wiring accessories business of Siemens in China, as part of their strategy to expand their market reach and enhance their offering within smart buildings. The acquisition is expected to close within the next year and will include a business that produces wiring accessories, smart home systems, smart door locks, and other home automation products. This business has generated sales of over $150 million in 2023 and employs approximately 350 people.

By acquiring this business, ABB aims to strengthen its position in the smart buildings market and provide more comprehensive solutions to its customers in the region. This move will allow ABB to access a distribution network across 230 cities in China and benefit from additional expertise in regional sales, manufacturing operations, and management teams.

The purchase price for this acquisition was not disclosed. However, this acquisition aligns with ABB’s strategic goals and will enhance their presence in the Chinese market, positioning them for continued success in the smart buildings sector. Overall, this move is expected to bring significant benefits to both companies and further solidify ABB’s position as a leader in the smart buildings industry.