 "Wipro PARI acquires Germany-based Hochrainer GmbH for undisclosed sum")
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.
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