ABB acquires majority of Meshmind to boost R&D capabilities in AI and IoT
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ABB announced that it has agreed to acquire a majority of software service provider Meshmind to expand its research and development (R&D) capabilities in AI, Industrial IoT 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 automation solutions within its Machine Automation division (B&R). The deal will focus on industries such as logistics and manufacturing.
“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 Sami Atiya, a president at ABB Robotics and Discrete Automation Business Area. “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.”
Meshmind’s team of around 50 employees will join B&R teams to enhance collaboration on various R&D projects, such as deep learning vision systems, AI-enabled engineering tools, and IoT app development. Their office in Sarajevo, Bosnia will become B&R’s new global hub for AI and software development.
“This acquisition builds on our successful relationship with Meshmind to establish a new global R&D hub for B&R,” said Joerg Theis, a Machine Automation Division President. “As part of our wider ecosystem that includes universities, partners and start-ups, 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.”
The investment coincides with ABB’s recent acquisition of Sevensense, a provider of AI-enabled 3D vision navigation technology for autonomous mobile robots (AMRs). Together, they emphasise ABB and B&R’s investment focus on innovative AI and software solutions to deliver value for its customers through the most productive and efficient technology.
The financial details of the transaction, expected to be completed in the first quarter of this year, have not been disclosed.
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