ABB buys smartgrid software maker Ventyx

More evidence that management software for electricity and energy industries is heating up:  ABB, the world’s largest power-transmission equipment maker, has acquired Ventyx, an Atlanta-based maker or software to manage electricity and energy networks for more than $1 billion.

Ventyx provides asset management, mobile workforce and energy demand and planning solutions all geared to the electricity and nuclear industries.    Within smart grid, they offer demand response and distributed energy management solutions.   Not all that dissimilar to TT but focused on energy rather than telecom.

With revenues of $250 million, ABB paid more than 4X revenue.  The median software M&A transaction was 1.1X revenue in 2009 and 2.1X in the 2007 heydays, so this is indeed on the expensive side.

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