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Company aims to expand AI, IIoT development through acquisition

9th February 2024

     

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Automation company ABB announced its agreement to acquire a majority of software service provider Meshmind last month with the aim of expanding its research and development (R&D) capabilities in artificial intelligence (AI), Industrial Internet-of-Things (IIoT) and machine vision.

Through this acquisition ABB will integrate engineering talent, AI and software knowledge to form a new global R&D hub to further accelerate the development of innovative automation solutions within its machine automation division.

“AI-powered robotics and automation have the power to transform industries, providing businesses with greater flexibility and intelligence amidst critical global trends and workforce challenges,” said ABB robotics and discrete automation business area president Sami Atiya.

“Through this acquisition, we will further accelerate the development of our software and AI-powered solutions to make automation more adaptive and accessible, enabling businesses of all sizes to become more resilient.”

The integration of Meshmind’s employees will expand collaboration with machine automation division teams in a range of R&D projects, including deep learning vision systems, AI-enabled engineering tools, and IIoT app development, from their office in Sarajevo, Bosnia. The Sarajevo-based office will serve as the machine automation division’s new global hub for AI and software development.

Financial details of the transaction that is expected to close in the first quarter of 2024 were not disclosed.

“This acquisition builds on our successful relationship with Meshmind to establish a new global R&D hub for B&R,” said ABB machine automation division president Joerg Theis.

“As part of our wider ecosystem that includes universities, partners and startups, this latest investment will strengthen our capacity and expertise to create solutions that make our customers’ lives easier, helping them shape the future of their industries,” Theis adds.

The investment coincides with ABB’s recent acquisition of technology startup Sevensense, a provider of AI-enabled three-dimensional vision navigation technology for autonomous mobile robots.

Together, Meshmind and Sevensense emphasise ABB and the machine automation division’s strategic investment focus on innovative AI and software solutions to deliver value for its customers through the most productive and efficient technology.

Edited by Nadine James
Features Deputy Editor

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