It was announced on December 17, 2018 that Hitachi will acquire an 80.1 percent stake in ABB’s Power Grids business. Closing of the deal is expected by first half of 2020 on completion of statutory procedures. Linxon sees this as a positive development and expects to benefit from market opportunities and deliver enhanced customer value. The Linxon Joint Venture between ABB and SNC-Lavalin, has been in operation since September 1, 2018, providing turnkey EPC (engineering, procurement, construction) solutions for AC (alternating current) substations.