MUNICH, Germany — Wiring system manufacturer Leoni AG (Nuremberg, Germany) has acquired Valentine Robotics, based in Sterling Heights near the US automotive center Detroit. The move aims at extending Leoni's portfolio for integrated system solutions with high engineering and service participation, the company said.
Valentine Robotics is specialized in programming and commissioning of industry robots as well as turnkey solutions for industrial image processing and measurement systems. Also, the company has significant activities in application trainings, Leoni informed. Over the past years, the US company achieved annual sales of $2.5 million in average with customers in automotive and aviation industry. Other segments where Valentine is active include food processing and special machine building.
The acquired company strengthens Leoni's robotics portfolio. In addition, the Nuremberg-based company hopes to benefit from additional programming services and trainings.
With the move, Leoni resumes its expansion strategy interrupted by the automotive crisis. Over the past years, the company established activities in Korea, Mexico and Spain.
Leoni said the purchase price was paid with its own shares. No details were provided as to the transaction volume.
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