03/03/2020
ABB, the Swiss technology company, has today announced that it has agreed to acquire Cylon Controls Ltd (Cylon). ABB (ABBN: SIX Swiss Ex) is a technology leader that is driving the digital transformation of industries. With a history of innovation spanning more than 130 years, ABB has four, customer-focused, globally leading businesses: Electrification, Industrial Automation, Motion, and Robotics & Discrete Automation, supported by the ABB Ability™ digital platform. ABB’s Power Grids business will be divested to Hitachi in 2020. ABB operates in more than 100 countries with about 144,000 employees.
Cylon, headquartered in Dublin and a spin-out from University College Dublin (UCD), provides building automation and HVAC control solutions, delivering operational efficiency, energy and comfort solutions for commercial and retail buildings, schools and healthcare facilities. The company has approximately 100 employees.
The parties agreed not to disclose the purchase price.
Oliver Iltisberger, ABB’s Head of Smart Buildings, said, “The acquisition will further enhance our portfolio of solutions for the commercial buildings segment, with a particular focus on delivering new innovations in energy-optimization and comfort.”
Seán Giblin, Chief Executive Officer, Cylon, said, “We are very excited to become part of ABB, a company that shares our commitment and passion for increasing comfort, energy and operational efficiency within buildings.”
Cylon was established by Seán Giblin to commercialise engineering research carried out by him at UCD. Since then Cylon has developed and maintained a strong partnership with the University, especially through the UCD School of Electrical and Electronic Engineering and NovaUCD.
UCD has also been a significant customer of Cylon having installed the Cylon Active Energy system throughout the University.
Tom Flanagan, UCD Director of Enterprise and Commercialisation, NovaUCD said, “One of the earliest companies to spin-out of the University Cylon has grown into an international company with global reach while delivering significant energy cost saving impact for its many customers around the world.”
“I would like to congratulate Seán and the entire Cylon team on today’s milestone announcement which is a reflection of the international success and impact achieved by the company since it was established.”
Source: UCD