The merger-acquisition spree has hit the Swiss engineering group ABB, which has shown interest in a Brisbane-based software firm, Mincom. As per reports, ABB has been planning to extend its business portfolio to enterprise asset management software and service and deciphering the potential strength of Mincom, ABB decided on the Company with workforce of 1,000 employees and churning annual revenues of about $200 million.

Though the deal will be signed between ABB and its equity owner, an Australia-based Company from Francisco Partners, the actual worth of the deal has been kept under wraps so far.

Confirming the news, Joe Hogan, CEO of ABB, claimed, “Mincom helps us to increase the depth of our enterprise asset management offering, building our position as a leader in the key growth sectors of natural resources and energy”.

As per sources, the newly acquired company, Mincom, will be introduced into ABB's Ventyx subsidiary, which was acquired by ABB for $1 billion in last May.

If old reports are to be believed, ABB has never been active in business acquisition in Silicon Valley, but the acquisition of Ventyx, Obvient and now ABB has broken the trend. Meanwhile, this acquisition is expected to provide quality service in infrastructure and optimizing asset management to the customers of ABB.