Midea acquires Servotronix for $170M

Chinese electronics giant Midea Group acquired control of Israeli automation solutions developer Servotronix at a company value of $170 million. Servotronix's development center in Petah Tikva will continue to operate after the acquisition.

“This strategic alliance represents another milestone of Midea’s expansion in industrial automation and intelligent manufacturing.”en.globes.co.il

• 1 source
• en.globes.co.ilChina's Midea buys Israeli co Servotronix - GlobesYuval Azulai, Tali TsiporiNov 2, 2017

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