◂ Announcements

Jun 2, 2020ACQUISITIONChina

Midea Group to acquire Hiconics for USD 105 million

Midea Group will acquire Hiconics, a manufacturer of industrial frequency converters, for USD 105 million. The deal is subject to antitrust review and Shenzhen Stock Exchange confirmation.

Value

$105.0M

Status

Announced

Productsindustrial frequency convertersservo drives

CompaniesMidea acquirer Hiconics target

Sectors#Automation and Robotics #Industrial Machinery

“The Hiconics acquisition will play an important role in Midea Group's expansion into the manufacturing technology market.”midea.com.ua

1 source
midea.com.uaMidea Acquires Company Hiconic | MideaJun 2, 2020

Summarized from public sources; check the original articles before acting on it.

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Midea Group to acquire Hiconics for USD 105 million · Endata