Swedish-Swiss industrial giant ABB said Friday it is buying Seam Group, a US provider of asset management and advisory services to clients in industrial and commercial building markets.

The group said its fifth acquisition of the year to date would enable it to widen its role in energy management services.

The transaction for an undisclosed sum remains subject to regulatory approvals and is expected to close in the third quarter of the year.

"The acquisition will complement ABB's Electrification Service offering, bringing significant additional expertise to customers in the areas of predictive, preventive, and corrective maintenance, electrical safety, renewables and asset management advisory services," ABB said.

Seam Group employs some 250 people and supports more than a million energised assets for over 800 clients across the United States as well as in the Americas, Europe, the Middle East and Africa and Asia.

It operates in sectors such as commercial buildings, data centres, healthcare, manufacturing and renewables including EV charging infrastructure.

In November, ABB chief executive Bjorn Rosengren said the group intended to ramp up its acquisitions drive to as many as 10 annually.

Recent weeks have seen Zurich-headquartered ABB notably take over a manufacturer of optical sensors for water management in Canada and a Swiss start-up specialising in artificial intelligence (AI) and three-dimensional vision for robots.

ABB manufactures robots for factories as well as railway traction systems, charging stations for electric vehicles and propulsion systems for ships.