Advantech : Acquired B+B SmartWorx for US$99.85 Million, Targeting Industrial IoT Applications and Expansion in the Industrial Connectivity Market
Taipei, Nov. 16, 2015 – Advantech, a worldwide leader in Industrial Intelligent Systems, announced on Nov. 16 that it entered into an agreement,subject to customary closing conditions, to acquire B+B SmartWorx Inc., a privately-held company based in Ottawa, IL, for US$99.85 million. B+B SmartWorx will be led by the current management team and will join Advantech’s Industrial IoT Business Group in developing new products and integrating global sales resources. With this acquisition, Advantech will expand its Industrial Connectivity product portfolio and increase its global market share by leveraging B+B SmartWorx’ branding and sales channels in the U.S., Europe, and the Middle East.
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