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ABB announced that it has agreed to acquire a majority of software service provider Meshmind to expand its research and development capabilities in AI, Industrial IoT, and machine vision. Through this acquisition ABB will integrate engineering talent, 
AI, and software knowledge to form a new global R&D hub to further accelerate the development of innovative software-driven automation solutions within its Machine Automation division (formerly B&R).
The integration of Meshmind’s approximately 50 employees will expand collaboration with B&R teams in a range of R&D projects, including deep learning vision systems, AI-enabled engineering tools, and IoT app development. Meshmind’s office in Sarajevo, Bosnia will serve as B&R’s new global hub for AI and software development. Financial details of the transaction that is expected to close in Q1 2024 were not disclosed.
The investment coincides with ABB’s recent acquisition of Sevensense, a leading provider of AI-enabled 3D vision navigation technology for autonomous mobile robots (AMRs). Together, they emphasize ABB and B&R’s strategic investment focus on innovative AI and software solutions to deliver value for its customers through the most productive and efficient technology.
Harry Forbes, ARC Advisory Group, commented, “Two acquisitions in two weeks for ABB. Both the Meshmind and Sevensense acquisitions are of small but talent-rich firms. The challenge is to retain and engage these teams as they move from a startup environment to become a strategic part of an industrial giant whose business is orders of magnitude larger. Software IP has a short half-life in areas like AI. Retaining the teams is key.”