ABB Collaborates with Engineering Software Steyr for Paint Shop Innovation
Deal News | Dec 20, 2024 | CEE Legal Matters
ABB, a global leader in power and automation technologies, has partnered with Austrian company Engineering Software Steyr to enhance automotive paint shop operations. The collaboration will focus on the development of advanced simulation tools, potentially leading to cost reductions of up to 30%. Legal advice for the investment was provided by CMS, with a team that included Partner Alexander Rakosi, Attorney at Law Marie-Christine Lidl, and Associate Rebecca Herlitz. Financial details of the investment were not disclosed. CMS did not comment further on the transaction.
Sectors
- Power and Automation Technologies
- Automotive Software
- Legal Services
Geography
- Austria – The location of Engineering Software Steyr, which is an Austrian-based company.
- Global – ABB operates on a global scale as a leader in power and automation technologies.
Industry
- Power and Automation Technologies – ABB is engaged in this industry, focusing on developing and providing various power and automation solutions.
- Automotive Software – Engineering Software Steyr specializes in creating precision software for automotive paint shop simulation, innovating operational processes in the automotive sector.
- Legal Services – CMS has provided legal advice, indicating the involvement of this sector in facilitating the investment.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| ABB | Bidding Company | Company | A global leader in power and automation technologies investing in Engineering Software Steyr. |
| Engineering Software Steyr | Target Company | Company | An Austrian provider of simulation software for automotive paint shops. |
| CMS | Legal Advisor | Company | Legal firm advising ABB on the investment. The team included Partner Alexander Rakosi, Attorney at Law Marie-Christine Lidl, and Associate Rebecca Herlitz. |
| Alexander Rakosi | Legal Advisor | Person | Partner at CMS who led the advisory team for ABB. |
| Marie-Christine Lidl | Legal Advisor | Person | Attorney at Law at CMS, part of the advisory team for ABB. |
| Rebecca Herlitz | Legal Advisor | Person | Associate at CMS, part of the advisory team for ABB. |