ABB: finalises acquisition of B&R.
(CercleFinance.com) - ABB today announced that it has completed the acquisition of the Austrian group Bernecker + Rainer Industrie-Elektronik (B&R).
The deal was announced on 4 April 2017, with ABB having financed the transaction in cash. Management believes that it will have an accretive effect on its earnings from the first year.
The amount of the transaction has not been disclosed, but it is "in line with sector valuations", the Swiss based group's management said.
B&R is presented as a leader in the field of programmable logic controllers and industrial computing. Over the last two decades, its sales have increased by 11% p.a. on average, and currently exceed 600 million dollars.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The deal was announced on 4 April 2017, with ABB having financed the transaction in cash. Management believes that it will have an accretive effect on its earnings from the first year.
The amount of the transaction has not been disclosed, but it is "in line with sector valuations", the Swiss based group's management said.
B&R is presented as a leader in the field of programmable logic controllers and industrial computing. Over the last two decades, its sales have increased by 11% p.a. on average, and currently exceed 600 million dollars.
Copyright (c) 2017 CercleFinance.com. All rights reserved.