# 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.

- Type: Acquisition
- Announced: 2020-06-02
- Where: China
- Value: $105.0M
- Status: announced
- Products: industrial frequency converters, servo drives
- Sectors: [Automation and Robotics](https://endata.com/sectors/automation-robotics.md), [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [Midea](https://endata.com/companies/1678.md) (acquirer)
- [Hiconics](https://endata.com/companies/47631.md) (target)

## Sources

- [midea.com.ua](https://www.midea.com.ua/en/about/news/midea-priobretaet-kompaniyu-hiconic), 2020-06-02: "The Hiconics acquisition will play an important role in Midea Group's expansion into the manufacturing technology market."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.