ZURICH (Reuters) - ABB has sealed a collaboration agreement with International Business Machines Corp, the Swiss engineering company said on Tuesday, the latest step in its efforts to ramp up its presence in digital technology and the internet of things.
In a joint statement ABB said it would combine its digital offering, which gathers information from machinery, with IBM's expertise in artificial intelligence featured in its Watson data analytics software. The two companies will jointly develop and sell new products.
"This powerful combination marks truly the next level of industrial technology, moving beyond current connected systems that simply gather data, to industrial operations and machines that use data to sense, analyze, optimize and take actions that drive greater uptime, speed and yield for industrial customers," ABB Chief Executive Ulrich Spiesshofer said in a statement.
(Reporting by John Revill, Editing by Michael Shields)