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business/news//The Economic Times
ABB is open to significant acquisitions following its $5.4 billion sale of its robotics division to Softbank Group.
ABB plans to pursue significant acquisitions following its $5.4 billion sale to Softbank.
KEY POINTS
CEO Morten Wierod confirmed ABB aims to expand in electrification and automation sectors.
ABB has the financial capability for larger, strategic deals beyond organic growth.
The company is not ruling out big acquisitions as part of its growth strategy.
Synopsis
ABB is open to significant acquisitions following its $5.4 billion sale of its robotics division to Softbank Group. CEO Morten Wierod stated the company aims to expand in electrification and automation, pursuing growth both organically and through inorganic means. ABB possesses the financial capacity for larger strategic deals.
ABB is not ruling out making big acquisitions after the Swiss engineering group agreed to sell its robotics business to Softbank Group in a $5.4 billion deal, CEO Morten Wierod said on Wednesday.
"We want to invest in the field of electrification and automation," Wierod told Reuters. "We want to grow both organically and inorganically."
"We have firepower to do also bigger acquisitions, so we're not excluding bigger deals," he added.
Also Read: ABB to sell robots business to SoftBank in $5.38 billion deal
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