Switzerland's ABB to buy GE Industrial Solutions at $2.6bn

Swiss engineering company ABB on Monday announced the acquisition of General Electric's global electrification solutions business GE Industrial Solutions for $2.6 billion. GE Industrial Solutions is headquartered in Atlanta, US, and has about 13,500 employees around the world. The deal which is expected to close in first half of 2018 also includes an agreement for long-term use of GE's brand.