acquire power electronics business of Gamesa Electric

ABB announced today it has signed an agreement to acquire the power electronics business of Gamesa Electric in Spain from Siemens Gamesa to strengthen ABB’s position in the growing market for high-powered renewable power conversion technology. The acquisition will significantly expand ABB’s existing power conversion product and service offering to renewables OEMs and end users, with new portfolio and engineering assets that will support the profitable growth strategy of ABB’s Motion business area. The transaction is subject to regulatory approvals and customary closing conditions and is expected to close in the second half of 2025. Financial terms were not disclosed.