 "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.
(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.)
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