ABB announced the acquisition of Norwegian marine automation specialist Høglund AS on June 26, 2026. This move strengthens ABB's automation offerings across various vessel segments.
Høglund will be integrated into the ABB Marine & Ports division. The transaction is expected to close in the third quarter of 2026. Financial terms were not disclosed.
On the same day, UBS raised its price target for ABB to CHF 88.00. The bank cited a strong outlook for the company's Electrification business. Growth in this sector is currently driven by data centers and utilities.