The parties agreed not to disclose the purchase price.
Dublin-headquartered Cylon (cylon.com), which has approximately 100 employees, provides building automation and HVAC control solutions, delivering operational efficiency, energy and comfort solutions for commercial and retail buildings, schools and healthcare facilities.
Speaking about the portfolio additions to the smart building business, Oliver Iltisberger, ABB’s Head of Smart Buildings, said: “The acquisition will further enhance our portfolio of solutions for the commercial buildings segment, with a particular focus on delivering new innovations in energy-optimization and comfort.”
Sean Giblin, Chief Executive Officer of Cylon, said: “We are very excited to become part of ABB, a company that shares our commitment and passion for increasing comfort, energy and operational efficiency within buildings.”
ABB (abb.com) is a technology leader that is driving the digital transformation of industries. With a history of innovation spanning more than 130 years, ABB has four, customer-focused, globally leading businesses: Electrification, Industrial Automation, Motion, and Robotics & Discrete Automation, supported by the ABB Ability™ digital platform. ABB’s Power Grids business will be divested to Hitachi in 2020. ABB operates in more than 100 countries with about 144,000 employees.
Important notice about forward-looking information
This press release contains forward-looking statements relating to the acquisition of Cylon Controls by ABB. Such forward-looking statements can be identified by words such as plans, intends, expects, and other similar terms. No forward-looking statement can be guaranteed. Among other risks, there can be no guarantee that the acquisition will be completed, or if it is completed, that it will close within the anticipated time period or that the expected benefits of the acquisition will be realized. Forward-looking statements in the press release should be evaluated together with the many uncertainties that affect ABB's business, particularly those identified in the cautionary factors discussion in ABB's Annual Report on Form 20-F for the year ended December 31, 2018. ABB undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.