ABB to acquire SEAM Group to expand electrification service offering

The acquisition will complement ABB’s Electrification Service offering, bringing significant additional expertise to customers in the areas of predictive, preventive and corrective maintenance, electrical safety, renewables, and asset management advisory services.

The transaction is subject to regulatory approvals and expected to close in the third quarter of this year, with financial terms yet to be disclosed.

SEAM Group offers a suite of services including strategic advisory, custom training, advanced technology, and data management solutions to help clients improve safety and operational performance by securing asset uptime and improving productivity.

The company has nearly 250 employees and supports more than one million energised assets for over 800 active clients operating across 50 US states, as well as in the Americas, EMEA (Europe, Middle East and Africa) and Asia.

With its presence at around 3,000 customer sites and a strong foothold in fast-growing segments such as commercial buildings, data centres, healthcare, manufacturing and renewables, including EV charging infrastructure, SEAM Group is expected to complement ABB’s low- and medium-voltage services where reliable and available power is critical.

“For many industries, every minute of production time counts. Proactive asset management is now a priority for industrial companies to guarantee peak performance of electrical systems and overall operational efficiency, safety and sustainability,” said Stuart Thompson, division president at ABB Electrification Service.

“This acquisition is part of our ongoing strategy to create a new force in electrification service, broadening our offering and footprint in the United States. By sharpening our approach in one of our key markets, we will be able to offer customers complete asset lifecycle management services, while expanding our field service coverage across North America.”

Colin Duncan, CEO of SEAM Group, said, “The synergies between SEAM Group and ABB are clear. From our shared values of customer focus, collaboration and enabling a more sustainable future, to our complementary portfolios, together we will deliver new levels of operational performance while supporting companies in their energy transition. We look forward to becoming part of ABB and the opportunity to bring the best of SEAM Group and ABB to our customers.”

One Capital Hospitality to acquire stake in Tin Phat Ice cream One Capital Hospitality (OCH), the proprietor of the renowned Trang Tien ice cream brand, approved a decision to acquire nearly 149,800 shares at VND100,000 VND ($4.22) per share from Tin Phat Ice cream on December 4. This transaction is expected to be completed this year or next,

NIC runs on ABB smart building tech The new National Innovation Centre (NIC) in Hoa Lac Hi-Tech Park, Hanoi is playing a key role in connecting the country’s domestic technology ecosystem with global networks, helping accelerate the country’s position as a regional innovation destination.

BUV offering courses for video game designers Vietnam's gaming industry is worth more than $500 million, placing it fifth in Southeast Asia, and is attracting more and more graduates aspiring to develop their careers in gaming due to its impressive growth.