Zurich-based industrialist ABB Ltd. (ABBN.Y 0.70%) 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.
