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Updated: May 5, 2010 13:20 IST

ABB acquires software maker Ventyx for over 1 billion dollars

DPA
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Transformers and the logo of Swiss-Swedish engineering group ABB are seen in Zurich in this file picture. AP.
Transformers and the logo of Swiss-Swedish engineering group ABB are seen in Zurich in this file picture. AP.

ABB, the Zurich—based industrial power group, announced on Wednesday it purchased software maker Ventyx for more than 1 billion dollars.

Ventyx, based in Atlanta, Georgia, employs 900 people and reported 2009 revenues of about 250 million dollars, ABB said in a statement.

The purchase from Vista Equity Partners is meant to enable the power and automation group to develop in—house software to manage energy networks, by creating real—time demand models and forecasting future needs, according to ABB.

Keywords: Acquisition

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