ABB To Purchase Software Maker Ventyx For $1B

Law360, New York (May 5, 2010, 2:03 PM EDT) -- Power and automation technology group ABB Ltd. announced Wednesday it would shell out more than $1 billion in cash to acquire software provider Ventyx from private equity firm Vista Equity Partners, a move aimed at strengthening the Swiss company's network management business.

The addition of Ventyx — which makes software for global energy, utility, communications, and other asset-intensive businesses — to ABB's existing network management business will help triple the size of the company's presence in the energy management software market, according to the Zurich-based engineering...
To view the full article, register now.