Wipro PARI, the industrial automation business of Wipro Infrastructure Engineering, has signed an agreement to secure acquisition of Germany-based Hochrainer GmbH, the company announced on 11th July.
Hochrainer, a family owned- company that was started in 1973, is a supplier of automation technology and assembly systems for worldwide automobile manufacturers.
For Hochrainer, the acquisition would help it progress and obtain access to future technologies and resources, it said.
Wipro Infrastructure Engineering CEO, Pratik Kumar said, “Our industrial automation business has grown significantly in the last four years. This acquisition will further help us expand our Europe presence and consolidate our global leadership position. It will bring significant benefits to our customers and other stakeholders”.
Hochrainer’s management said the two companies have been established in their fields for decades as “world leaders in innovation, technology, and quality”. It further said, “We are convinced that this engagement will bring significant benefits to customers and long-term future prospects for Wipro Hochrainer”.