Swiss manufacturer buys software company
June 22, 2010 by Kathleen Zipp
Filed under Wind Power News
ABB, a Swiss power and automation manufacturer, agreed to acquire software developer Ventyx for more than $1 billion from San Francisco-based investor Vista Equity Partners.
Ventyx software assists in the planning of electricity needs, including that from renewable sources. The company also offers management of assets, for mobile workforces, trading energy, and risk managing.
ABB will combine its related network-management business within the Power Systems division, with Ventyx to form a single unit for energy-management software. By providing ABB with broader access to the utility enterprise management market, the acquisition triples the energy management software market available to the company.
The acquisition is in line with ABB’s strategy to pursue growth opportunities that complement the company’s product, technology, and geographical portfolio. It is subject to regulatory approvals, and ABB expects to complete the transaction in the second quarter.
Based in Atlanta, Georgia, Ventyx has a customers in the U.S. , Europe, and more than other 40 countries. The company employs 900 people and reported about $250 million in 2009 revenues.
ABB abb.com
Ventyx ventyx.com
Vista Equity Partners vistaequitypartners.com
Windpower Engineering Assistant Editor, Kathie Zipp, has over four years of writing experience and has spent her career focusing on renewable energy topics.
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