ABB has acquired the software company Ventyx from Vista Equity partners for a consideration of over US$1bn.
Ventyx chiefly supplies asset, workforce, and risk management software platforms, along with energy trading systems and solutions designed to help utilities forecast electricity needs. An important atraction for ABB, given the expected steep increase in smart grid conversion, it that its software can process real-time energy demand, pricing and availability.
ABB is expecting to offer Ventyx’s energy management software as part of its existing power systems network management business. The deal is expected to be completed in 2Q of 2010.