ABB acquires Siemens' switch socket business in China, deepening its electrical business layout

Enhance ABB's leading position in the switch socket market

Expand marketing network to support business growth

ABB Group announced today that it has signed an agreement to acquire Siemens' switch socket business in China. This acquisition will expand ABB's market coverage in the field of smart buildings and provide a richer product portfolio for customers in the region.

The businesses acquired by ABB this time include switch sockets, smart home systems, smart door locks, and other home automation supporting products, which will continue to use the Siemens brand under authorized agreements.

After the acquisition is completed, ABB will acquire Siemens' distribution network in 230 cities across China, and its regional sales, production operations, and management expertise will further enrich ABB's service capabilities in this business. Siemens' switch socket business has a professional team of over 350 people in China, and achieved a revenue of over 150 million US dollars in China in 2023. This acquisition will have a positive impact on ABB's profits, and the transaction is expected to be completed within the next twelve months. The financial terms have not been disclosed.

This acquisition reflects our strategic focus and commitment to business growth in China. With new sales channels and an expanded product portfolio, we are able to offer a complete range of ABB building automation and energy distribution solutions, providing customers with richer, more reliable, and safer smart building technology options

ABB is a technology leader in the field of electrical and automation, committed to empowering a more sustainable and efficient future. ABB integrates engineering experience and software technology into a solution to optimize manufacturing, transportation, energy, and operations. Adhering to over 140 years of outstanding history, ABB's approximately 105000 employees worldwide are dedicated to driving innovation and accelerating industrial transformation. ABB has comprehensive business activities in China, including research and development, manufacturing, sales, and engineering services. It has about 30 local enterprises and approximately 15000 employees spread across nearly 130 cities. Its online and offline channels cover about 700 cities across the country. https://new.abb.com/cn