The stock is up another 20 cents at $20.80.
Hey, we were just talking about ABB!*
[he's always talking about ABB -ed]
Massive Swiss electrical equipment giant ABB isn’t a name commonly associated with cutting-edge innovation and young startups. But this morning, the company said that it’s invested a small sum through its VC arm into Valley startup Power Assure, which makes software that can ramp up and down the power consumption of data centers to coincide with server usage.On Friday it was "Siemens; ABB lifted to conviction buy at Goldman: ABB, Siemens, Schneider to Gain From Demand for Smart Grids, Goldman Says (SI; ABB)"
ABB’s investment into Power Assure was only $1.5 million, but it’s an important validation of how big the market could be for the three-year-old startup’s green data center technology. ABB doesn’t do anything small: It has operations in 100 countries, close to 120,000 employees and generated annual revenue of $31.8 billion in 2009. ABB also makes data center power equipment, so it’s an important strategic partner for Power Assure....MORE