ABB will acquire the GE Industrial Solutions division for $ 2.6 billion to expan

Swiss engineering company ABB Ltd (ABBN.S) said on Monday it would buy Industrial Solutions at GE (GE) for $ 2.6 billion to expand its presence in the North American market.

ABB is expected to use this transaction, each year is expected to create a cost of 200 million US dollars in cost, including long-term use of General Electric brand terms. The industrial solutions sector revenue of about $ 2.7 billion in 2016, operating margin of about 8%.

People familiar with the matter said in August, General Electric to reduce its price expectations, the re-sale of industrial solutions business to ABB consultations.