The acquisition establishes a supply relationship from ABB … ABB operates in more than 100 countries with about 132,000 employees. The transaction was announced on September 25, 2017, and is expected to be accretive to operational EPS in the first year. As one of Thomas Edison’s original businesses, GEIS is the cradle of electrification a legacy that we will preserve and build on, now that GEIS is part of ABB.” GEIS (geisinc.com) will be integrated into ABB’s Electrification Products (EP) division, led by EP President Tarak Mehta, as a new business unit called Electrification Products Industrial Solutions (EPIS). ABB, a pioneering technology leader, has announced it has completed its acquisition of GE Industrial Solutions (GEIS), GE’s global electrification solutions business in a $2.6 billion transaction. ABB described the GEIS acquisition as part of a shift in the company's "center of gravity." ABB’s aim is to deliver approximately $500 million annual run-rate cost reductions across the group from the program during 2021. ABB acquires GE Industrial Solutions for $2.6bn Revisa las traducciones de 'Gey' en español. Ulrich Spiesshofer discusses ABB’s intention to acquire Baldor (external version) ID: 9AKK105152A8452, REV:-English. Stephanie Mains, who was previously the President and CEO of the GE Industrial Solutions business, will lead the new business unit as Managing Director. ABB acquires GE Industrial Solutions. ABB continuing operations headcount was 113,900 at the beginning of the year and 110,000 at the end of 2019, partly also reflecting stranded cost elimination. Electrical equipment, power grid and robotics company ABB, Ltd. (NYSE: ABB - $24.74) said it will acquire General Electric's global electrification solutions business GE Industrial Solutions (GEIS) for $2.6 billion. ABB also acquires long-term rights to the GE brand and aims to complement the installed base of GEIS products with its digitization solutions. ABB’s operations are organized into four focused leading business areas, which in turn are made up of 20 divisions. Electrification, ABB acquires GEIS. GEIS will be integrated into the Electrification Products (EP) division of ABB as the new Electrification Products Industrial Solutions (EPIS) business. ABB says it has completed its acquisition of GE Industrial Solutions (GEIS), GE’s global electrification solutions business on June 30, 2018. Revisa las traducciones de 'GEI' en Español. ABB expects to realize approximately $ million of annual cost synergies in year five, which will be key in bringing GE Industrial Solutions to peer performance. Movie. The $2.6 billion transaction offers substantial value creation potential within ABB, including growth opportunities to be leveraged from coupling ABB's digital offering, ... ABB acquires GE Industrial Solutions for $2.6bn. ABB says the transaction provides growth opportunities by coupling ABB’s digital offering, ABB Ability, with the GEIS installed base. Important notice about forward-looking information. ABB Jürgen Dormann Foundation - Interview with Ulrich Spiesshofer, ABB Group CEO. Sustainability. ABB announced it has completed its acquisition of GE Industrial Solutions (GEIS), GE’s global electrification solutions business on June 30, 2018. ABB Investor Center provides information on the company, its financial performance and strategy, shares, bonds and annual general meeting. 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