ABB to buy Bernecker + Rainer

|About: ABB LTD. (ABB)|By:, SA News Editor

ABB is looking to expand its industrial automation footprint with the purchase of Austria's Bernecker + Rainer.

It marks the largest acquisition under CEO Ulrich Spiesshofer, as the company looks to recover from depressed orders and the impact of the commodity slump.

The cash deal for B&R, which has annual sales of more than $600M, is expected to close this summer.