FX.co ★ ABB To Buy Power Electronics Business Of Gamesa Electric

ABB Ltd. (ABB, ANN.L) revealed on Wednesday that it has finalized an agreement to purchase the power electronics division of Gamesa Electric in Spain from Siemens Gamesa. The terms of the financial agreement have not been publicly disclosed. This strategic acquisition aims to enhance ABB's current portfolio of power conversion products and services for renewable OEMs and end users, while also expanding its serviceable power conversion installed base by approximately 40 GW. The deal is anticipated to be concluded in the latter half of 2025.