Swiss engineering and technology company ABB says new acquisition Meshmind will form the basis of a global hub that can “accelerate development of AI-powered solutions” from its machine automation division.
Five-year-old Meshmind, which describes itself as a “fast-growing software services company with expertise in machine learning”, has about 50 employees in Sarajevo, Bosnia and Herzegovina, and Salzburg, Austria.
ABB expects its acquisition of “a majority” of Meshmind for an undisclosed price to close in the current quarter.
“AI-powered robotics and automation have the power to transform industries, providing businesses with greater flexibility and intelligence amidst critical global trends and workforce challenges,” ABB Robotics and Discrete Automation president, Sami Atiya, said.
“Through this acquisition we will further accelerate the development of our software and AI-powered solutions to make automation more adaptive and accessible, enabling businesses of all sizes to become more resilient.”
ABB says Meshmind’s Sarajevo office would serve as its global automation and robotics AI and software development hub.
The investment follows ABB’s recent acquisition of Zurich-based Sevensense Robotics AG, a provider of AI-enabled 3D vision navigation technology for autonomous mobile robots.
