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Innomotics, a Siemens Business, has partnered with Anglo American to provide Siemens technologies for the digital mining solution at the Quellaveco copper mine in Peru, commissioned in 2022.
KPS Capital Partners signed a definitive agreement to acquire Innomotics GmbH from Siemens AG for an enterprise value of €3.5 billion. The transaction is expected to close in Q4 2024 or Q1 2025.
Nidec and KPS Capital Partners are reported to be competing to acquire Innomotics, the motors and large drives business spun off by Siemens, which has sales of €3bn and could fetch a similar sum.