Swiss industrial and power generation equipment maker ABB has acquired Australian industry intensive software company Mincom for an undisclosed sum, to expand its enterprise software business, according to a press release from Mincom.
ABB bought Mincom from private equity group Francisco Partners and expects the move to broaden its software portfolio.
According to ABB CEO Joe Hogan, the deal is part of the company's strategy to broaden its software offering and helps to increase its enterprise asset management offering.
"For our customers this means extending the life of their infrastructure, optimizing asset management and reducing the overall cost of ownership," Hogan said.
ABB said Mincom's presence in the natural resources sector complements ABB's experience in mining control systems and its position in energy management technology.
Mincom will retain its management team and headquarters in Brisbane, Australia. Mincom's operations will be added to ABB's dedicated software business Ventyx, which uses information and operational technologies to optimize asset performance, integrate business processes and offer insight into global business operations.
In a separate announcement, Mincom said its enterprise software business is well positioned for the next phase as the acquisition will open up new growth opportunities. Mincom said its customers will benefit from ABB's efforts to expand R&D innovation, return on investment and growth prospects.
According to Mincom, its Australian operations will continue as before and remain a "significant" focus, while the acquisition will expand its global reach and service capabilities.
In Latin America, Mincom has offices in Chile, Brazil, Peru and Colombia. At the end of last year, the regional division began a restructuring process aimed at overhauling its core account focus and consulting services.