On Tuesday, there was an announcement from Microsoft that it was expanding the partnership it has with ABB even as the company is rejecting calls from investors to break up its business.
In Zurich, ABB witnessed a busy day with headlines coming from the multinational corporations that major in robotics, automatic technologies and power. With the partnership with Microsoft, the company will be able to grant its customers access to cloud technology of tech giants in the U.S.
At the moment, the company has connected devices numbering up to 70 million that are already installed with not less than digital control systems that are 70, 000. It has the vision to use the partnership with Microsoft to create the largest cloud platforms that is yet to be seen anywhere in the world.
CEO of Microsoft, Satya Nadella at a press conference on Tuesday said they will give industrial customers the cloud platform and digital technology they need to make sure they are empowered to succeed whether as an individual, a team, an organisation so as to tap into the numerous opportunities and growth that abounds.
The company was not the only one that made the announcement. On ABB’s part, they said they will launch a buyback program and step up on cost savings as well as make sure its power grid is together despite the push from investors to divide it.
ABB CEO, Ulrich Spiesshofer, said that after due consultation with the board, they came to the conclusion that it was best for them to keep the unit together so that shareholders will still have their value intact. The company has been accused of making low profit with its power grid which Spiesshofer dismissed with the claim that it was still the leader in profit when it comes to the industry.
Cevian Capital International investment that has not less than $11.2 billion which is 10 billion Euros in assets alone that is under management said it was regretful that the company has refused to split its assets. They were of the opinion that ABB is not working at its maximum productivity level yet.