BERLIN (dpa-AFX) - Siemens AG (SMAWF) announced on Thursday that it has agreed to acquire the industrial drive technology or IDT business of ebm-papst.
The IDT has around 650 employees and focuses on smart, integrated mechatronic systems that help automate and digitize production processes.
This acquisition is expected to enhance Siemens Xcelerator 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.
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