ABB Expands AI and Software Capabilities with Acquisition of Meshmind to Boost Automation Innovation

ABB Expands AI and Software Capabilities with Acquisition of Meshmind to Boost Automation Innovation

(IN BRIEF) ABB has announced its acquisition of a majority stake in Meshmind, a software service provider, to bolster its research and development capabilities in AI, Industrial IoT, and machine vision. This strategic move will enable ABB to establish a global R&D hub within its Machine Automation division (B&R) and advance the development of automation solutions for industries like logistics and manufacturing. Meshmind’s expertise, including approximately 50 employees, will collaborate with B&R teams on various R&D projects, focusing on deep learning vision systems, AI-based engineering tools, and IoT app development, with Sarajevo, Bosnia, serving as the hub for AI and software development. This investment aligns with ABB’s recent acquisition of Sevensense, emphasizing its commitment to innovative AI and software solutions, making automation more adaptive and accessible for businesses worldwide. Financial terms of the transaction were not disclosed.

(PRESS RELEASE) ZURICH, 19-Jan-2024 — /EuropaWire/ — ABB announced it has agreed to acquire a majority of software service provider Meshmind to expand its research and development capabilities in AI, Industrial IoT and machine vision. Through this acquisition ABB will integrate engineering talent, AI and software knowledge to form a new global R&D hub to further accelerate the development of innovative automation solutions within its Machine Automation division (B&R).

“AI-powered robotics and automation have the power to transform industries, providing businesses with greater flexibility and intelligence amidst critical global trends and workforce challenges,” said Sami Atiya, President, ABB Robotics and Discrete Automation Business Area. “Through this acquisition, we will further accelerate the development of our software and AI-powered solutions to make automation more adaptive and accessible, enabling businesses of all sizes to become more resilient.”

The integration of Meshmind’s approximately 50 employees will expand collaboration with B&R teams in a range of R&D projects, including deep learning vision systems, AI-enabled engineering tools, and IoT app development, from their office in Sarajevo, Bosnia, which will serve as B&R’s new global hub for AI and software development. Financial details of the transaction that is expected to close in Q1 2024 were not disclosed.

“This acquisition builds on our successful relationship with Meshmind to establish a new global R&D hub for B&R,” said Machine Automation Division President Joerg Theis. “As part of our wider ecosystem that includes universities, partners and start-ups, this latest investment will strengthen our capacity and expertise to create solutions that make our customers’ lives easier, helping them shape the future of their industries.”

The investment coincides with ABB’s recent acquisition of Sevensense, a leading provider of AI-enabled 3D vision navigation technology for autonomous mobile robots (AMRs). Together, they emphasize ABB and B&R’s strategic investment focus on innovative AI and software solutions to deliver value for its customers through the most productive and efficient technology.

ABB is a technology leader in electrification and automation, enabling a more sustainable and resource-efficient future. The company’s solutions connect engineering know-how and software to optimize how things are manufactured, moved, powered, and operated. Building on more than 140 years of excellence, ABB’s ~105,000 employees are committed to driving innovations that accelerate industrial transformation. www.abb.com

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SOURCE: ABB