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ABB to acquire Ventyx for $1 billionMay 06, 2010 (Datamonitor via COMTEX) -- ABB, which provides power and automation technologies for its utility and industrial customers, has agreed to acquire Ventyx for more than $1 billion from Vista Equity Partners. Ventyx is a software provider to global energy, utility, communications, and other businesses, offering a range of solutions including: asset management, mobile workforce management, energy trading and risk management, energy operations and energy analytics. ABB is planning to combine its related network management business within the power systems division, with Ventyx to form a single unit for energy management software solutions. By providing ABB with broader access to the utility enterprise management market, the acquisition triples the energy management software market available to ABB, ABB said. Vince Burkett, CEO of Ventyx, said: "Combining Ventyx's leading software suite with ABB's systems and unparalleled domain knowledge of the power industry will create a business that is ideally placed to offer solutions that will help to meet the challenges of rapidly evolving energy networks." http://www.datamonitor.com Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Datamonitor shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon [ Back To TMCnet.com's Homepage ] |