RALEIGH, N.C. – , a multi-billion dollar global company focused on power and automation technologies and one of the largest tenants at North Carolina State University’s Centennial Campus, is transferring some 40 jobs to Texas.

ABB (NYSE: ABB), which is based in Switzerland, confirmed reports from sources who had told Local Tech Wire and WRAL.com about the move.

“ABB is relocating its Network Management operations in Raleigh to its network management headquarters in Sugar Land, Texas, over the next several months” Bill Rose, ABB’s media manager in Raleigh, said.

“This relocation of about 40 positions is part of a Network Management strategic initiative to consolidate our DMS (Distribution Management Systems) team with the SCADA (Supervisory Control and Data Acquisition) team already in Sugar Land, so we can offer a better integrated SCADA/DMS solution to our utility customers.”

ABB occupies most of the Venture One building at Centennial Campus with some 350 employees.

The company also recently moved its North American headquarters to Cary from Connecticut. The firm has some 550 Triangle employees.

The transfer is intended to help ABB “better address evolving ‘Smart Grid’ opportunities and position ABB Network Management for strong market growth, increasing ABB’s ability to more efficiently and effectively serve its customers and respond to business growth opportunities,” Rose said.

Affected employees will be offered relocation packages.

“For those employees unable to relocate, ABB will offer full support and work closely with them to try and find another local position within ABB,” Rose said.

The Network Management group is part of the ABB Power Systems Division, which will keep its headquarters in Raleigh. ABB’s Power products division headquarters also is in Raleigh.

Asked if any other moves were contemplated, Rose said “not at this time, though ABB will continue to monitor market trends closely. We do we continue to be optimistic about our long-term growth strategies both as a company and here in the Triangle.”

Last week, ABB reported a two percent decline in quarterly earnings to $7.9 billion and a 31 percent drop in profits to $675 million from the same time frame in 2008. Earnings did top analysts’ expectations of $571 million.