General Electric resumes talks to sell its industrial solutions business to ABB

General Electric has resumed negotiations to sell its industrial solutions business to ABB, according to a report on Reuters.com. 

The US conglomerate’s industrial solutions business includes products such as circuit breakers, relays, panel boards and other technologies for sectors including power generation, telecommunications and mining.

Swiss company ABB had previously talked to GE about possibly purchasing the business, and the price it offered was said to be $2 billion.  Continue reading General Electric resumes talks to sell its industrial solutions business to ABB

US gives Midea green light to buy Kuka

US approves Midea takeover of Kuka. Reuters/Wolfgang Rattay
US approves Midea takeover of Kuka. Reuters/Wolfgang Rattay

Reuters

China’s Midea said it will complete its takeover of German robotics maker Kuka in the first half of January after the United States authorities gave the deal a green light.

Midea, which launched a €4.5 billion offer for Kuka in May, said Germany’s markets regulator had approved the settlement of the transaction, allowing it to control a 94.55 percent voting stake in Kuka from January onwards.

The bid for Kuka, a high-tech robotics manufacturer, sparked controversy in Germany amid fears that key technologies were falling into foreign hands at a time when China protects its own companies against foreign takeovers.  Continue reading US gives Midea green light to buy Kuka

SoftBank to buy ARM

softbank-pepper-robot

Japanese communications giant SoftBank is to acquire ARM Holdings for £24.3 billion, according to a report on the Financial Times website

SoftBank has been on something of a spending spree in recent years and is looking to raise its profile in markets outside of Asia, where it is already well-known.

The company is particularly interested in computer technology –including artificial intelligence, robotics and automation — and the proposed takeover of ARM would seem to fit into this plan.  Continue reading SoftBank to buy ARM