ABB Gears Up for Acquisitions After $5 Billion Robotics Sale

ABB Ltd. has the appetite and firepower for acquisitions after the Swiss industrial giant agreed to sell its robotics unit to SoftBank Group Corp. for more than $5 billion.

“We have today, especially after this deal, higher power to do what we want to do,” ABB Chief Executive Officer Morten Wierod said in an interview Wednesday. The Zurich-based company unexpectedly announced the sale of its robotics business to Japan’s SoftBank for almost $5.4 billion, well above analysts’ expectations.