Zurich-based industrialist ABB Ltd. has bought Los Gatos Research of Mountain View, Calif., ABB announced Friday.
Nineteen-year-old LGR, as its new acquisition is referred to, produces a line of high-performance, laser-based gas analyzers used to measure trace gases and isotopes for research and environmental monitoring. ABB intends to incorporate LGR's 40-employee team into its own Measurement Products business unit, within the ABB Process Automation Division.
ABB global business unit manager Kishore Sundararajan explained the purchase by noting that "LGR fills a gap in our technology portfolio and brings a host of new solutions that are vital to industrial customers, such as oil & gas production and transportation, combustion, emissions, power generation and environmental monitoring."
The purchase is scheduled to close in Q3 2013. Financial terms of the transaction were not disclosed.
The article ABB Buying Los Gatos Research originally appeared on Fool.com.
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