ABB to acquire software provider Mincom
Power and automation specialist ABB is acquiring the Brisbane based company Mincom from its current owners, private equity group Francisco Partners, for an undisclosed sum.
Joe Hogan.
Mincom provides enterprise asset management software and services for asset intensive industries such as mining operations and mobile workforce management.
Mincom has around 1,000 employees and annual revenues of approximately $200 million. The company has a distribution network in 19 countries.
“The acquisition of Mincom is part of our strategy to continuously broaden our software offering, [which] … helps us to increase the depth of our enterprise asset management offering, building our position as a leader in the key growth sectors of natural resources and energy,” said Joe Hogan, chief executive of ABB.
ABB will retain the Mincom management team and its operations will be added to Ventyx, ABB’s dedicated software business.
Greg Clark, chief executive of Mincom said “joining forces with ABB is a logical next step in the development of our company and a strong validation of the business, our people and our products. It will expand our global reach and service capabilities, enabling us to continue building on the business we have fostered over the past three decades.”
Contact: www.abb.com
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