NKT has acquired a technology consulting unit from ABB to reinforce its technology capabilities developing the future technology for power cable solutions.
The technology consulting unit specializes in key areas within power cable development such as Chemistry & Materials, Applied Mechanics and Electrical Testing, which is a non-core business of ABB.
The acquisition includes approximately 30 employees with expert competencies now being part of the existing R&D setup in NKT.
“This is an important step in strengthening our technology capabilities and R&D setup to maintain our strong market position within innovative power cable solutions. I am pleased to welcome the new colleagues to NKT bringing expert knowledge in key areas needed to help continue developing the power cable technology for the future,” said Anders Jensen, executive vice president and chief technology officer in NKT.
“We are keen to continue to grow the consultancy business and leverage the strong technological capabilities of the team to continue to develop our portfolio of power cables solutions. With the acquisition we strengthen our competencies within HVDC technology. This enhances our market position in the growing HVDC market driven by offshore wind and interconnectors.”
Following the acquisition, the consultancy business remains located in Västerås, Sweden.