Enterprise software company Mincom is set to move to a new home after announcing a multimillion-dollar buyout bid by Swiss technology company ABB Group.
"ABB's acquisition of Mincom and interest in the business is a vote of confidence in our products, service capability, R&D, innovation, return on investment and growth prospects," boasted Mincom CEO Greg Clark.
The software company has already experienced a buyout within the last five years, being snapped up by Francisco Partners in 2007.
"By combining with ABB, Mincom customers will also benefit from ABB's commitment to expand R&D investment in Mincom's solutions and customer support," he added.
ABB is set to integrate the Mincom business into Swiss-multinational's Ventyx software portfolio.
Mincom told ZDNet Australia in a statement that the takeover isn't going to force any changes in the company's leadership. The company declined to reveal the exact value of the deal.
(Front page image credit: Rio Tinto)