With its recently announced acquisition of Thomas & Betts Corp., Memphis, Tenn., and its 2010 acquisitions of Baldor Electric Co., Fort Smith, Ark., and Ventyx, an Atlanta-based supplier of software solutions for the utility and energy markets, ABB has spent more than $9 billion on acquisitions to build its presence in the North American electrical market. More may be on the way.
According to this Bloomberg News report, ABB's CEO Joe Hogan has a war chest of $18 billion to go after future deals.
The company appears to be outspending several of its rivals on M&As. According to the article, "Since 2010, ABB spent three times more on acquisitions than Schneider Electric SA (SU), and four times more than Siemens, data compiled by Bloomberg show."