ABB considering big acquisitions after $5.4 billion sale of robotics business

ABB is not ruling out making big acquisitions after the Swiss engineering group agreed to sell its robotics business to Softbank Group in a $5.4 billion deal, CEO Morten Wierod said on Wednesday.

“We want to invest in the field of electrification and automation,” Wierod told Reuters. “We want to grow both organically and inorganically.”

“We have firepower to do also bigger acquisitions, so we’re not excluding bigger deals,” he added.