ABB today announced the successful completion of its acquisition of Siemens’ Wiring Accessories business in China, a strategic move to expand its market presence and enhance its smart building solutions portfolio in the region. First announced on May 17, 2024, the transaction strengthens ABB’s ability to deliver integrated, innovative products for modern buildings while supporting global sustainability goals.
Key Benefits of the Acquisition
The acquired business, which generated over $150 million in revenue in 2024, brings significant value to ABB, including:
- A comprehensive product portfolio spanning wiring accessories, smart home systems, smart door locks, and peripheral home automation solutions.
- A robust distribution network covering 230 cities across China, enabling broader customer reach.
- A team of 350 skilled employees with deep local market expertise.
Under the terms of a licensing agreement, the acquired products will continue to be sold under the Siemens brand, ensuring continuity for existing customers while leveraging ABB’s global technology leadership.
Driving Growth in Smart Buildings and Sustainability
The acquisition is expected to be margin accretive for ABB, aligning with its focus on expanding high-growth segments in electrification and automation. By integrating the new product range with its existing smart building technologies, ABB is better positioned to address critical market needs, including improving energy efficiency, enabling sustainable building operations, and supporting decarbonization efforts.
“This acquisition strengthens ABB’s position and commitment to growth in China’s wiring accessories market,” said Mike Mustapha, President of ABB Electrification’s Smart Building Division. “It complements our smart buildings technologies portfolio and enables us to meet evolving customer needs by creating safer, smarter, and more sustainable buildings. We are now perfectly positioned to offer a full range of wiring accessories, home and building automation, energy distribution, and management solutions—addressing major local challenges such as rapid urbanization, energy transition, building electrification, decarbonization, and advancing AI and digitalization.”
Financial terms of the transaction have not been disclosed.
