ABB: agreement to acquire Meshmind

(CercleFinance.com) - ABB announces that it has reached an agreement to acquire a majority stake in Meshmind, a software services provider, and thereby expand its R&D competencies in the fields of AI, industrial IoT and machine vision.


Thanks to this acquisition, ABB will integrate new talent and skills into a new global R&D hub, accelerating the development of innovative automation solutions within its Machine Automation (B&R) division.

With this acquisition, we will accelerate the development of our AI-assisted software solutions to enable adaptive and accessible automation, thus increasing the resilience of companies of all sizes, ABB says.

Meshmind's offices in Sarajevo (Bosnia) become B&R's new global hub for software and AI development. The financial details of the transaction, which is expected to be completed pretty much now, were not disclosed.


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