Wipro PARI Acquired Hochrainer GmBH based in Germany

BUSINESS

The industrial automation business of Wipro Infrastructure Engineering, Wipro PARI, announced it has signed an agreement to acquire Hochrainer GmBH, company based in Germany. Hochrainer GmBH, is in operations since 1973 and is employing around 130 people.

Wipro has established itself as an important supplier of automation technology and assembly systems for many global automobile manufacturers. Wipro said Hochrainer also has a significant presence in the other non-automotive industries and is working with main global players in these industries.

The company said for Wipro PARI, which has approximately 1,300 employees and a significant global presence, and this acquisition mainly represents an important step in the strategic development of the group in Europe, and the financial details of the transaction are not revealed.

Pratik Kumar, chief executive at Wipro Infrastructure Engineering, said their industrial automation business has increased significantly in the past four years. He said this acquisition will further provide help in expanding their Europe presence and consolidate their global leadership position, and it will bring benefits to their customers and several other stakeholders.

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Wipro Infrastructure Engineering is a part of privately-held Wipro Enterprises, and non-IT businesses like lighting, FMCG and aerospace component manufacturing had been demerged from the listed entity in 2013.