Switzerland-based equipment maker ABB has acquired Tropos Networks, a US-based wireless technologies provider backed by German industrial conglomerate Siemens’ corporate venturing unit, for an undisclosed amount.
Tropos will help ABB expand its offering for smart grids and other critical infrastructure applications and become part of ABB’s global utility communications product group.
In June 2009, venture capital firms Integral Capital Partners, Benchmark Capital, Voyager Capital Partners and Hanna Capital provided $5m to Tropos, formerly known as FHP Wireless, four years after Siemens Venture Capital, the corporate venturing subsidiary of Siemens, made a strategic investment.