ABB announces Ventyx acquisition
ABB expects to become a leading provider of software solutions for managing energy networks after agreeing to acquire Ventyx from Vista Equity Partners for more than $1bn (£862m).
One of Ventyx’s key software applications gives utilities and grid operators the information required to better match electricity generation with consumption, even at the household level.
Similarly, Ventyx’s load forecasting software can help to integrate large amounts of unpredictable renewable energies, such as wind and solar power.
ABB said in a statement that it will combine its related network management business with Ventyx to form a single entity for energy management software solutions.
By providing the company with broader access to the utility enterprise management market, the acquisition triples the energy management software market available to ABB.
Based in Atlanta, Georgia, Ventyx has a large installed base in the US market and Europe and operates in more than 40 countries. The company employs 900 people and reported 2009 revenues of about $250m.
Register now to continue reading
Thanks for visiting The Engineer. You’ve now reached your monthly limit of news stories. Register for free to unlock unlimited access to all of our news coverage, as well as premium content including opinion, in-depth features and special reports.
Benefits of registering
-
In-depth insights and coverage of key emerging trends
-
Unrestricted access to special reports throughout the year
-
Daily technology news delivered straight to your inbox
Gigacasting: A Breakthrough in EV Manufacturing
Lots of interesting developments here. Though the phrase "‘The Vault’ – an encased system full of magic that is easily scalable." is not...