ABB to acquire Aurora Motors, terms not disclosed

ABB (ABBNY) has signed an agreement to purchase Aurora Motors. This acquisition provides a product portfolio, a longstanding customer base in 30 countries and an experienced customer-centered sales structure, as well as solid partnerships with strategic suppliers. Aurora Motors is a $4M U.S. Vertical Pump Motors provider, with engineering and operations in Shanghai, China and a corporate office and distribution center in Hayward, California. Financial terms were not disclosed, and the transaction is expected to be closed before the end of the 2024 financial year. This transaction is part of the Motion Business area’s profitable growth strategy, and it will allow the NEMA Motors Division to enhance its product offering, expand its supply chain and improve support to its global customer base