ABB to buy Riverside-backed KEYMILE's network comms biz
July 04, 2017
Telecommunications Service Providers | Hanover, Germany | Corporate Acquisition
ABB (SIX: ABBN) has agreed to acquire the network communications unit of KEYMILE, a portfolio business of The Riverside Company. The deal will help boost the Swiss industrial technology giant's standing in digital electrical grid communications. The KEYMILE subsidiary employs 120 people and will become a part of ABB's power grids division. Riverside originally bought the business in 2011, alongside co-investor Halder.