Austrian automation specialist Keba AG is acquiring two businesses, LTI Motion and Heinz Fiege GmbH, from German technology group Körber AG.
Keba said it signed the acquisition agreement with Körber 15 Nov, with completion set for the end of the year. Financial details of the deal were not disclosed.
Founded in 1962, Heinz Fiege GmbH is based in Röllbach, south of Frankfurt and is a specialised in application-oriented spindle technology.
Originally founded as Lust Electronic-Systeme GmbH in 1971, LTI Motion, headquartered in Lahnau, Germany has been part of the international technology group Körber since 2013.
The company, which Keba says has been acquired for its complementary portfolio, supplies drive solutions for demanding mechanical engineering applications from its “several locations in Europe and one location in China”.
“Keba is a specialist in control and safety, and in operations in industrial environments, LTI Motion in the area of servo drive technology. The great advantage for our existing and future customers is that this expertise is now bundled,” explained Gerhard Luftensteiner, CEO of Keba AG.
While Keba and LTI Motion have already collaborated on the development of automation solutions in the past, this acquisition will allow Keba to provide “complete solutions” to customers from a single source, covering operations, control and safety technology and drive technology.
Combining the two companies’ expertise with those of Fiege, according to Keba, will create synergies in technology, the modular product system, as well as in sales.
Post-acquisition, Keba said it would “emphasise continuity in the management of LTI Motion”, to maintain support for customers. The company statement did not clarify whether there will be management changes within Heinze Fiege.
“We are extremely pleased to have a new strategic owner with Keba who, like us, is dedicated to subjects like innovation and customer proximity,” said Hartmut Braun, managing director of LTI Motion.
With the acquisition, Keba will expand significantly in terms of market position as well as workforce, which will increase to 1,700 from the current 1,200.