- ALSO READ
Wipro PARI, the industrial automation business of Wipro Infrastructure Engineering (a Wipro Enterprises entity), announced on Monday it has signed a definitive agreement to acquire Hochrainer GmbH, based in Freilassing, Germany.
Hochrainer GmbH, a family-owned company, has been in operations since 1973 and employs around 130 people, Bengaluru-headquartered Wipro said in a statement.
The company has established itself as an important supplier of automation technology and assembly systems for numerous global automobile manufacturers, it said, adding that Hochrainer also has a significant presence in other non-automotive sectors and works with key global players in these sectors.
"For Wipro PARI, which has around 1,300 employees and a significant global presence, this acquisition represents an important step in the strategic development of the group in Europe," the statement said.
Financial details of the transaction were not disclosed.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
First Published: Mon, July 11 2022. 15:17 IST