A leading German company Weidmüller acquires shares of ORing industrial Networking (abbr: ORing); strengthens ORing’s presence in the globe and Industrial Connectivity in Automation Market.
New Taipei City, Taiwan / Detmold, Germany 18. June 2019.
The Weidmüller Group, an international market leader in Industrial Connectivity and automation with headquarters in Detmold, Germany, acquired a stake of 17.5 percent in ORing on May 31, 2019. With the minority interest Weidmüller strengthens its strategic partnership with ORing and enables a deepening of the technological and global distributive 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 want to establish Weidmüller as a recognized player in the Industrial Internet of Things sector – with the acquisition of this stake we are taking an important step in this direction. In addition, we are strengthening our presence in the Asian market and will benefit technologically from ORing's high level of 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, ORing which employs 150 developers and technicians worldwide, will form a dedicated development team for Weidmüller in order to strengthen partnership; meanwhile relocate ORing European headquarters from Poland to Paderborn, Germany, at the newly established Weidmüller location, by which will connect both parties deeper and together, digging into Industrial Market.