Wipro PARI, the industrial automation business of Wipro Infrastructure Engineering, has signed an agreement to acquire Germany’s Hochrainer GmbH, the company said on July 11.
Hochrainer is a supplier of automation technology and assembly systems to global car manufacturers, founded in 1973 and has 130 employees.
In March, Pratik Ku, CEO of Wipro Infrastructure Engineering, said: “Our industrial automation business has grown significantly over the past four years. This acquisition will further help us expand our presence in Europe and strengthen our global leadership position. It will greatly benefit our customers and other stakeholders’ interests”.
For Hochrainer, the acquisition will help it grow and gain access to resources and future technologies. The leadership of Hochrainer – Erich and Werner Hochrainer – will become part of Wipro PARI.
Hochrainer’s management stated that the two companies had established themselves as “world leaders in innovation, technology and quality” in their respective fields over the years. “We believe this engagement will bring significant benefits to the customer and Wipro Hochrainer’s long-term prospects,” it said.
Wipro PARI MD Ranjit Date said that through the acquisition, the company would seek to strengthen its global capabilities, increase its offerings in the electric vehicle segment and provide a base to support European customers.