Global engineering group ABB (NYSE: ABB) announced another U.S. acquisition that will expand its services to utilities developing smart grids.
The group will acquire the business of Insert Key Solutions (IKS), a specialist software provider, based in Chadds Ford, Pennsylvania.
Financial terms were not disclosed.
IKS specializes in delivering software solutions for process improvement, increased equipment reliability and operational performance in power generation plants, and transmission and distribution networks. The company has an extensive customer base in the thermal and nuclear power sectors, and a staff of 50 people.
Earlier this year ABB acquired Ventyx for $1 billion. The Atlanta-based company provides enterprise software,
energy markets data and professional services that enable energy,
utility, communications and other asset-intensive organizations to
optimize operational efficiency and productivity.
“Insert Key Solutions provides a highly complementary offering to our solutions for the power industry," said Jens Birgersson, head of the Network Management business within ABB’s Power Systems division. “It significantly strengthens our software-based solutions, which optimize equipment reliability, asset health and maintenance services for asset-intensive industries.”
ABB plans to retain the IKS team and will place IKS executives in key roles within the Ventyx team responsible for Asset Suite, eSOMS (asset and operations management software), and IKS solutions.
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