Industrial networking company acquired
Advantech announced that it entered into an agreement, subject to customary closing conditions, to acquire B+B SmartWorx Inc., a privately-held company based in Ottawa, Ill., for $99.85 million. With this acquisition, Advantech plans to expand its Industrial Connectivity product portfolio and increase its global market share as well as accelerate their Industrial Internet of Things (IIoT) channel. They plan to do this by leveraging B+B SmartWorx’ branding and sales channels in the U.S., Europe, and the Middle East. B+B SmartWorx will be led by their current management team and will develop new products and integrate global sales resources with Advantech’s Industrial IoT Business Group. The transaction is expected to close in early 2016.
– Edited by CFE Media. See more Control Engineering industrial networking stories.