TOKYO -- Hitachi said Monday it has reached a deal to acquire the power grid business of Switzerland's ABB for $6.4 billion as the Japanese industrial conglomerate strives to build up its overseas presence in a market poised for rapid growth.
"This deal shows the way forward for Hitachi as we aim to become a truly global company," Toshiaki Higashihara, president and CEO of Hitachi, told reporters on Monday.
