ABB Strengthens Leadership in Smart Building Solutions with Acquisition of Siemens’ Wiring Accessories Business in China

ABB Strengthens Leadership in Smart Building Solutions with Acquisition of Siemens’ Wiring Accessories Business in China

(IN BRIEF) ABB has successfully acquired Siemens’ Wiring Accessories business in China, enhancing its position in the smart building technologies sector. The acquisition, valued at over $150 million in revenue for 2024, adds a robust distribution network across 230 cities and a wide product portfolio, including smart home systems and home automation products. The deal strengthens ABB’s market presence in China and Southeast Asia while complementing its existing smart building solutions. ABB’s portfolio now includes expanded energy-efficient products, positioning the company to address major local challenges such as urbanization, energy transition, and decarbonization.

(PRESS RELEASE) ZURICH, 4-Mar-2025 — /EuropaWire/ — ABB has completed the acquisition of Siemens’ Wiring Accessories business in China, marking a strategic move to expand its leadership in wiring accessories and smart building technologies. This acquisition not only broadens ABB’s reach but also significantly enhances its regional portfolio, catering to the growing demand for safe, energy-efficient, and reliable building solutions in China and Southeast Asia.

With a projected revenue of over $150 million in 2024, Siemens’ Wiring Accessories business brings a robust distribution network covering 230 cities, along with a comprehensive product portfolio that includes smart home systems, smart door locks, and home automation products. The deal also adds 350 skilled employees to ABB’s team. The financial terms of the transaction were not disclosed when the acquisition was announced on May 17, 2024.

The business will be margin accretive to ABB and will continue to offer Siemens-branded products under a licensing agreement. This acquisition significantly enhances ABB’s ability to provide integrated, innovative solutions that improve building energy efficiency and tackle the global challenge of reducing carbon emissions. The expanded product range will include wiring accessories, smart home technology, and additional peripheral home automation products.

Mike Mustapha, President of ABB Electrification’s Smart Building Division, emphasized: “This acquisition reinforces ABB’s commitment to growth within China’s wiring accessories market and enhances our smart building solutions portfolio. By combining these new assets with our existing capabilities, we are uniquely positioned to meet customer needs and create safer, smarter, and more sustainable buildings. We are now better equipped to address key challenges such as rapid urbanization, energy transition, building electrification, decarbonization, and the rise of AI and digitalization in the building sector.”

ABB is a global technology leader in electrification and automation, enabling a more sustainable and resource-efficient future. By connecting its engineering and digitalization expertise, ABB helps industries run at high performance, while becoming more efficient, productive and sustainable so they outperform. At ABB, we call this ‘Engineered to Outrun’. The company has over 140 years of history and around 110,000 employees worldwide. ABB’s shares are listed on the SIX Swiss Exchange (ABBN) and Nasdaq Stockholm (ABB). www.abb.com

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SOURCE: ABB