Industrial networking company acquired

Advantech announced that it entered into an agreement, to acquire B+B SmartWorx Inc., a privately-held company based in Ottawa, Ill., for $99.85 million as they look to enhance their business reach in the U.S., Europe, and the Middle East.
By Advantech November 18, 2015

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.

Advantech

www.advantech.com 

B+B Smartworx

www.bb-smartworx.com 

– Edited by CFE Media. See more Control Engineering industrial networking stories.