British rock band Genesis, reggae superstar Jimmy Cliff, rockers The Stooges, and The Hollies are also among the legends who will be inducted into the Rock and Roll Hall of Fame at a ceremony on March 15 in New York.
The new members "represent a great cross-section of artists that define the broad spectrum and history of rock and roll," Rock and Roll Hall of Fame foundation CEO Joel Peresman said in a statement.
The performers were chosen by more than 500 voters of the Hall of Fame Foundation. Artists become eligible for inclusion 25 years after their first recordings were released.
ABBA became one of the biggest-selling acts in pop history with songs like "Money, Money, Money" and "Winner Takes it All." The four member group broke up in 1982 but enjoyed a revival with the stage and movie musical "Mamma Mia!", based on many of their biggest hits.
The three-part harmonies of British invasion beat group The Hollies produced more than 2O British chart hits in the 1960s and 1970s including "He Ain't Heavy, He's My Brother."
The Stooges, also known as Iggy and The Stooges behind frontman Iggy Pop, claimed their share of fame in the late 1960s and early 1970s, and are widely credited with influencing punk rock, alternative rock and heavy rock.
They broke up in 1974 but reformed in 2003. Guitarist and founder member Ron Asheton, 60, was found dead at his home in Michigan in January.
Genesis began as an art rock band in England in the late 1960s. Outrageous frontman Peter Gabriel left them for a solo career in 1975, but the group's fame and reputation grew as drummer Phil Collins took over.
(Reporting by Jill Serjeant; Editing by Bob Tourtellotte)
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