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Agency / Source: ABB Robotics / ABB Ltd

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ABB Adds Cylon Controls to its Smart Buildings Portfolio - ABB has today announced that it has agreed to acquire Cylon Controls Ltd (Cylon). The acquisition enhances ABB Electrification business’ position in the commercial buildings segment - Cylon.com / ABB.com
ABB Adds Cylon Controls to its Smart Buildings Portfolio

 

PRZOOM - /newswire/ - Zurich, Switzerland, 2020/03/03 - ABB has today announced that it has agreed to acquire Cylon Controls Ltd (Cylon). The acquisition enhances ABB Electrification business’ position in the commercial buildings segment - Cylon.com / ABB.com. ABBN: SIX Swiss Ex

   
 
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The parties agreed not to disclose the purchase price.

Dublin-headquartered Cylon (cylon.com), which has approximately 100 employees, provides building automation and HVAC control solutions, delivering operational efficiency, energy and comfort solutions for commercial and retail buildings, schools and healthcare facilities.

Speaking about the portfolio additions to the smart building business, Oliver Iltisberger, ABB’s Head of Smart Buildings, said: “The acquisition will further enhance our portfolio of solutions for the commercial buildings segment, with a particular focus on delivering new innovations in energy-optimization and comfort.”

Sean Giblin, Chief Executive Officer of Cylon, said: “We are very excited to become part of ABB, a company that shares our commitment and passion for increasing comfort, energy and operational efficiency within buildings.”

ABB (abb.com) is a technology leader that is driving the digital transformation of industries. With a history of innovation spanning more than 130 years, ABB has four, customer-focused, globally leading businesses: Electrification, Industrial Automation, Motion, and Robotics & Discrete Automation, supported by the ABB Ability™ digital platform. ABB’s Power Grids business will be divested to Hitachi in 2020. ABB operates in more than 100 countries with about 144,000 employees.

Important notice about forward-looking information
This press release contains forward-looking statements relating to the acquisition of Cylon Controls by ABB. Such forward-looking statements can be identified by words such as plans, intends, expects, and other similar terms. No forward-looking statement can be guaranteed. Among other risks, there can be no guarantee that the acquisition will be completed, or if it is completed, that it will close within the anticipated time period or that the expected benefits of the acquisition will be realized. Forward-looking statements in the press release should be evaluated together with the many uncertainties that affect ABB's business, particularly those identified in the cautionary factors discussion in ABB's Annual Report on Form 20-F for the year ended December 31, 2018. ABB undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.

 
 
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Agency / Source: ABB Robotics / ABB Ltd

 
 

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ABB Adds Cylon Controls to its Smart Buildings Portfolio

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Cylon Controls Ltd | ABB
Contact: Liam English - ABB.com 
+41 79 408 2174 liam.english[.]ch.abb.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any ABB Robotics / ABB Ltd securities in any jurisdiction including any other companies listed or named in this release.

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