Dublin-based energy firm Cylon Controls will be acquired by Swiss automation giant ABB for an undisclosed sum.
Swiss business ABB, which specialises in electrification, automation and robotics, has agreed to acquired University College Dublin (UCD) spin-out Cylon Controls.
Headquartered in Dublin, smart energy management company Cylon provides building automation and HVAC control solutions. With approximately 100 employees, its goal is to deliver operational efficiency, energy and comfort solutions for commercial and retail buildings, schools and healthcare facilities.
Terms of the deal were not disclosed. Zurich-headquartered ABB operates in more than 100 countries with around 144,000 employees.
Founded by Seán Giblin in 1985, Cylon began as a project in UCD to commercialise the engineering research that he was carrying out. Since then, Cylon has maintained a strong partnership with the university through the UCD School of Electrical and Electronic Engineering and NovaUCD.
UCD has also been a customer of the business and has installed the Cylon Active Energy system throughout its campus.
“We are very excited to become part of ABB, a company that shares our commitment and passion for increasing comfort, energy and operational efficiency within buildings,” Giblin said regarding the acquisition.
Tom Flanagan, director of enterprise and commercialisation at NovaUCD, added: “One of the earliest companies to spin out of the university, Cylon has grown into an international company with global reach while delivering significant energy cost saving impact for its many customers around the world.
“I would like to congratulate Seán and the entire Cylon team on today’s milestone announcement, which is a reflection of the international success and impact achieved by the company since it was established.”
Oliver Iltisberger, head of smart buildings at ABB, said: “The acquisition will further enhance our portfolio of solutions for the commercial buildings segment, with a particular focus on delivering new innovations in energy-optimisation and comfort.”
Iltisberger added that the deal will help ABB’s customers on “their journey toward zero carbon emission and human-centric smart buildings”.