Acquisition of shares in the Taiwanese family-owned company strengthens Weidmüller’s competence in network infrastructures and solutions for the Industrial Internet of Things (IIoT)
Detmold, Germany / New Taipei City, Taiwan, 12. June 2019. The Weidmüller Group, an international market leader in Industrial Connectivity and automation with headquarters in Detmold, Germany, acquired a minority stake in ORing Industrial Networking Corporation (abbr: ORing) on May 31, 2019. With the minority interest, Weidmüller strengthens its strategic partnership with ORing and enables a deepening of the technological cooperation. The parties have agreed not to disclose the purchase price.
Volker Bibelhausen, Chief Technology Officer of Weidmüller Group commented on the conclusion of the agreement: "We are strengthening Weidmüller’s position to become a recognized player in the Industrial Internet of Things space – with this acquisition we are taking an important step in this direction. In addition, we are complementing our presence in Asia and will benefit from ORing's strong development expertise."
Angus Shih, founder, Chief Technology Officer and Sales & Technical Leader at ORing added: „ORing will continue to exist as an independent company, but with Weidmüller's know-how and global positioning we will work even more consistently and successfully on joint IIoT solutions for our global markets. By adopting German working attitude into ORing family, we are thrilled to cultivate the same spirit of excellency to enhance ourselves to the next level in high quality product development and company management system. I am looking forward to the entry of Weidmüller and to the intensified cooperation that is now beginning.“
As a result of the share acquisition, which employs 150 developers and technicians worldwide, ORing will, among other things, put together a dedicated development team for Weidmüller and relocate its European headquarters from Poland to Paderborn, Germany, at the newly established Weidmüller location Zukunftsmeile 2.
