On June 30, 2018 ABB announced completion of the transaction on acquisition of GE Industrial Solutions (GEIS) – global business of GE on electric equipment. The transaction was announced on September 25, 2017 and should lead to increase in an indicator of EPS (earning per share) within the first year.
The transaction in the amount of 2.6 bln. dollars of the USA – potential on value creation within ABB concern at the expense of opportunities which open thanks to a portfolio of the digital solutions ABB Ability and big base of the installed GEIS equipment. ABB expects to receive economy about 200 million dollars of the USA in five years that will become a key factor at the implementing solutions GEIS.
GEIS will be integrated into division Electric equipment (EP) ABB which is directed by the president of division Tarak Mehta, as the new business direction "Industrial Solutions" (EPIS). Stephanie Mayns who was the president and the CEO of GE Industrial Solutions company earlier will head the new direction as the managing director. Within this transaction ABB established the long-term strategic relations with GE meaning delivery of products and solutions from a portfolio of ABB. The transaction includes the long-term right to use the GE brand.
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