Key Stats
ABB Ltd. is a global technology company headquartered in Zurich, Switzerland, operating in electrification and automation fields. The company was formed in 1988 from the merger of two electrical engineering companies: Sweden’s ASEA and Switzerland’s Brown, Boveri & Cie (BBC).
ABB operates through four business areas: Electrification, Motion, Process Automation, and Robotics & Discrete Automation. The company is dual-listed on the SIX Swiss Exchange and Nasdaq Nordic in Stockholm. ABB has been part of the Fortune Global 500 for over 30 years.
Employees of ABB and its predecessor companies developed several technologies for generating, transmitting, and distributing electricity. One notable invention is the miniature circuit breaker by Hugo Stotz, found in almost every home today.
ABB Ltd. History
Ludvig Fredholm established Elektriska Aktiebolaget in Stockholm, which later became ASEA after a 1890 merger.
Charles E. L. Brown and Walter Boveri founded Brown, Boveri & Cie in Baden, Switzerland.
ASEA and BBC merged to form ASEA Brown Boveri (ABB) with approximately $15 billion revenue and 160,000 employees.
ABB launched Azipod electric propulsion systems for ships, providing thrust and steering functions.
ABB launched the FlexPicker delta robot designed for picking and packing applications.
ABB acquired Baldor Electric for $4.2 billion, its largest acquisition to date.
ABB introduced YuMi, the world’s first truly collaborative robot designed for human-machine collaboration.
ABB Ability digital solutions platform was launched, and ABB acquired B&R for industrial automation.
Hitachi officially acquired 80.1% of ABB’s Power Grids business for approximately $6.4 billion.
ABB Ltd. Co-founders
ABB Ltd. was formed through a merger of two established companies. The original founders of the predecessor companies laid the groundwork for what would become one of the world’s largest technology corporations.
Swedish industrialist who established Elektriska Aktiebolaget in 1883 in Stockholm as a manufacturer of electrical lighting and generators. This company later became ASEA.
British-born Swiss electrical engineer who co-founded Brown, Boveri & Cie in 1891. He was responsible for technical development and pioneered high-voltage power transmission.
Swiss entrepreneur who partnered with Charles Brown in 1891 to establish Brown, Boveri & Cie in Baden, Switzerland. He handled the business and commercial operations.
ABB Ltd. Competitors
ABB competes with several global technology corporations across electrification, automation, and robotics sectors. The company holds approximately 11% of the global industrial automation market.
Major competitors include Siemens, which recorded $83.1 billion in revenue in 2023, along with Schneider Electric, Rockwell Automation, and Honeywell. In robotics, ABB faces competition from FANUC, Yaskawa, and KUKA.
| Company | Headquarters | Primary Segment |
|---|---|---|
| Siemens AG | Munich, Germany | Industrial Automation, Digitalization |
| Schneider Electric | Rueil-Malmaison, France | Energy Management, Automation |
| Rockwell Automation | Milwaukee, USA | Industrial Automation, Control Systems |
| Honeywell International | Charlotte, USA | Building Technologies, Process Solutions |
| Mitsubishi Electric | Tokyo, Japan | Factory Automation, Robotics |
| Emerson Electric | St. Louis, USA | Process Automation, Control Systems |
| FANUC Corporation | Yamanashi, Japan | Industrial Robots, CNC Systems |
| Yaskawa Electric | Kitakyushu, Japan | Motion Control, Robotics |
| Eaton Corporation | Dublin, Ireland | Power Management, Electrical |
| Yokogawa Electric | Tokyo, Japan | Process Control, Measurement |
ABB Ltd. Revenue
ABB generated $32.85 billion in revenue in fiscal year 2024, representing a 1.91% increase from $32.23 billion in 2023. The Electrification segment contributes the largest share of total revenue.
The company targets annual comparable revenue growth of 5 to 7 percent through an economic cycle, plus an additional 1 to 2 percent from acquisitions.
ABB Ltd. Market Cap
ABB has a market capitalization of approximately $156 billion as of February 2026. This makes ABB one of the world’s 125 most valuable companies by market value.
The company’s market cap increased by over 50% in 2024-2025 as investors responded positively to its focus on automation and electrification technologies.
ABB Ltd. Acquisitions
ABB has completed over 45 acquisitions throughout its history, expanding its capabilities in automation, electrification, and robotics. The company has also divested several business units to focus on core operations.
The largest acquisition came in 2011 when ABB purchased Baldor Electric for $4.2 billion. This all-cash transaction increased ABB’s market share in the North American industrial motors segment. A year later, ABB acquired Thomas & Betts for $3.9 billion, adding low voltage products for industrial and utility applications.
In 2017, ABB acquired Bernecker + Rainer Industrie-Elektronik (B&R), the largest independent provider of product and software-based open-architecture solutions for industrial automation. This deal strengthened ABB’s position in factory automation and machine building.
Recent acquisitions include Eve Systems (smart home automation) in 2023, Real Tech (water monitoring sensors) in January 2024, and Meshmind (AI and software capabilities) in 2024. In December 2024, ABB announced plans to acquire Gamesa Electric’s power electronics business from Siemens Gamesa.
On the divestiture side, ABB sold its Power Grids business to Hitachi for approximately $6.4 billion in 2020. Hitachi completed full acquisition by 2022, rebranding the business as Hitachi Energy. In 2021, ABB sold its Dodge mechanical power transmission business to RBC Bearings for $2.9 billion. In October 2025, ABB agreed to sell its robotics division to SoftBank Group for $5.4 billion.
FAQs
When was ABB Ltd. founded?
ABB Ltd. was founded in 1988 through the merger of Sweden’s ASEA (founded 1883) and Switzerland’s Brown, Boveri & Cie (founded 1891). The company is headquartered in Zurich, Switzerland.
What does ABB stand for?
ABB stands for ASEA Brown Boveri, derived from the names of the two companies that merged in 1988: ASEA of Sweden and Brown, Boveri & Cie of Switzerland.
How many employees does ABB have?
ABB employs approximately 110,000 people worldwide as of 2024. The company operates in over 100 countries across Europe, the Americas, Asia, the Middle East, and Africa.
What are ABB’s main business segments?
ABB operates through four business areas: Electrification, Motion, Process Automation, and Robotics & Discrete Automation. Electrification generates the largest revenue share.
Who is the CEO of ABB?
Morten Wierod has been ABB’s CEO since August 2024. He succeeded Bjorn Rosengren, who served as CEO from March 2020 to August 2024.
