ABB announced it has completed the acquisition of Siemens’ Wiring Accessories business in China, to broaden ABB’s market reach and complement its regional customer offering within smart buildings. Generating over $150 million in revenue in 2024, the business adds a comprehensive product portfolio, a robust distribution network across 230 cities, and 350 skilled employees. The transaction was announced on May 17, 2024, and financial terms of the transaction were not disclosed.
The business will be margin accretive to ABB and expands ABB’s portfolio with wiring accessories, smart home systems, smart door locks and further peripheral home automation products, which will continue with the Siemens brand under terms of a licensing agreement. With a strengthened product range and distribution network, ABB is well positioned to deliver integrated, innovative solutions that modernise buildings, improve energy efficiency, and tackle the global challenge of reducing carbon emissions.
Mike Mustapha, President of ABB Electrification’s Smart Building Division said: “This acquisition strengthens ABB’s position and commitment to growth in China’s wiring accessories market, complementing our smart buildings technologies portfolio and enabling us to meet evolving customer needs by creating safer, smarter and more sustainable buildings. We are perfectly positioned to offer a full range of wiring accessories, home and building automation, energy distribution and management solutions, to address major local challenges such as rapid urbanisation, energy transition, electrification of buildings, decarbonisation and advancing AI and digitalisation.”
