Finnish company The Switch has announced today the signing of an agreement for its acquisition by the Japan-based Yaskawa Electric Corporation. The deal is the next step in a strategic collaboration both companies entered in autumn of 2013.
A key point for the acquisition is the complementing of services of both companies. Yaskawa’s global network will allow The Switch to develop its presence on an international level, while providing megawatt-class power generation for renewable energy applications.
— From our customers’ point of view, this acquisition ensures global availability of The Switch offering, states Jukka-Pekka Mäkinen, President and CEO of The Switch.
— With close cooperation with Yaskawa group we can further extend our offering and can serve better our customers in a broader range of wind and marine applications as well as numerous other industrial applications.
The Switch is a Vantaa-based company that specializes in providing permanent magnet generator and full-power converter packages that effectively capture power from various renewable energy sources. Founded in 2006, The Switch reported net sales of EUR 46.2 million in 2013.
Yaskawa Electric provides technologies focused on the fields of Motion Control, Robotics Automation, and Systems Engineering.
Find out more: www.theswitch.com
Article first published in Good News from Finland.