ABB Ltd. (ABB, ANN.L), Wednesday announced that the company has agreed to acquire the power electronics business of Gamesa Electric in Spain from Siemens Gamesa. The financial details of the deal have not been disclosed.
The acquisition is expected to expand ABB's existing power conversion product and service offering to renewables OEMs and end users, as well as increase its serviceable power conversion installed base with the addition of around 40 GW.
The transaction is expected to close in the second half of 2025.
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