(Sterling Heights, Michigan) - Valentine Robotics has been acquired by German-based Leoni. Valentine Robotics – which specializes in programming and commissioning of industrial robots, turn-key solutions and measuring systems – has about 20 employees and posts about $2.5 million in annual sales.
Terms of the deal were not disclosed.
According to a news release, Leoni has significantly extended its robotics portfolio with the purchase.
“With our takeover and incorporation of Valentine Robotics into the industrial solutions business unit of the wire & cable solutions division we are broadening not only our footprint in North America, but also again our systems expertise,” said Klaus Probst, president and CEO of Leoni AG.
Valentine Robotics serves established customers in the car and robot manufacturing industry, but has also been increasingly successful in the aviation, food production, metal processing, special machinery making, furniture production and health care sectors.
Leoni is a global supplier of cable systems for applications in the automotive sector and other industries. The group of companies, which is listed on the German MDAX, employs around 45,000 people in 34 countries and generated combined sales of EUR 2.9 billion in 2008. Leoni develops and makes technically sophisticated products from single-core automotive cables to complete wiring systems and offers related services. Leoni's product range also comprises wires and strands, standardized cables as well as special cables and wiring systems for applications in various markets.
For more information about Leoni visit http://www.leoni.com
For more information about Valentine Robotics visit http://valentinerobotics.com/index.php
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