#Who we are at hitachi abb power grids software

Hitachi drives Social Innovation Business, creating a sustainable society with data and technology. With a history of excellence stretching back more than 130 years, ABB’s success is driven by about 105,000 talented employees in over 100 countries.

#Who we are at hitachi abb power grids software

By connecting software to its electrification, robotics, automation and motion portfolio, ABB pushes the boundaries of technology to drive performance to new levels. This will further strengthen our balance sheet and give us additional flexibility in our capital allocation decisions,” said Timo Ihamuotila, Chief Financial Officer of ABB.ĪBB (ABBN: SIX Swiss Ex) is a leading global technology company that energizes the transformation of society and industry to achieve a more productive, sustainable future. “We are delighted to have agreed on the final part of the transaction earlier than expected and on favorable terms. The transaction is subject to regulatory approvals and closing is expected to happen in the fourth quarter 2022. ABB expects net positive cash inflows of approximately $1.425 billion upon closing of the sale. ABB does not expect to record any significant gain or loss as a result of the sale. The companies have agreed to settle remaining obligations relating to the original transaction, and ABB will continue to provide transition services to Hitachi Energy for them to fully separate from ABB’s systems.

The call option’s exercise value is $1.679 billion. Hitachi has exercised its call option that was agreed between the parties in December 2018. (Hitachi) its remaining 19.9 percent equity stake in the Hitachi Energy joint venture that was formed from ABB’s Power Grids business in 2020, with Hitachi holding a stake of 80.1 percent. ABB has reached an agreement to divest to Hitachi, Ltd.