ZURICH, Switzerland, Mar 3, 2025 – ABB has announced that 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 the financial terms of the transaction were not disclosed.
The business will be margin accretive to ABB and expand 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. ABB is positioned to deliver integrated solutions that improve energy efficiency, modernize buildings, and reduce carbon emissions by expanding its product range and distribution network.
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 urbanization, energy transition, electrification of buildings, decarbonization and advancing AI and digitalization.”
Source: ABB
About ABB
ABB is a global technology leader specializing in electrification and automation, aiming to enable a more sustainable and resource-efficient future. Founded in 1988 through the merger of Sweden’s ASEA and Switzerland’s Brown, Boveri & Cie (BBC), ABB has more than 140 years of history. Headquartered in Zurich, Switzerland, the company operates in over 100 countries and employs approximately 110,000 people worldwide. ABB’s offerings include products and services in electrification, robotics, automation, and motion, serving industries such as utilities, transportation, and infrastructure. In 2023, ABB reported revenues of $32.2 billion.