Siemens to buy Industrial Drive Technology business from ebm-papst
Siemens has agreed to take over the industrial drive technology division (IDT) - used for automated vehicles, among other things - of Germany's ebm-papst engineering company, both companies announced on Thursday.
The IDT unit has around 650 employees and specializes in smart systems that help automate and digitize production processes.
The acquisition is expected to enhance Siemens Xcelerator - a marketplace connecting sellers and developers to help companies in their digital transformation - and create new market prospects, along with substantial business opportunities in flexible and autonomous factory automation.
The finalization of the transaction is scheduled for mid-2025, subject to necessary foreign trade and merger control approvals.
The companies have agreed not to disclose the purchase price.
