- September 08, 2015
Paradox Engineering provides open standard urban and industrial wireless sensor network solutions, global virtual networks and OEM versions of its core network technologies.
September 8, 2015 – Minebea acquired full capital and assets of the Swiss technology company Paradox Engineering. After joining Paradox Engineering as shareholder and major strategic partner at the beginning of 2014, Minebea has now moved to complete its investment to capitalize on the Swiss Company’s vision, know-how and technologies and accelerate the success of the Group in the Internet of Things (IoT) and Smart markets.
Paradox Engineering is entrusted to shape the Group vision and innovation strategy, and will act as extended R&D center developing cutting edge technologies enabling and transforming Minebea’s products to be full IoT ready for the full-fledged implementation of its new “Five Arrows” and “Five Arrows for New Products” strategies.
The two companies are building a unique and consistent portfolio of IoT urban and industrial wireless sensor networks to address Smart Cities, Smart Buildings, Industrial Smart Sensing and Machine-2-Machine markets worldwide. Customers will therefore take advantage of Paradox Engineering and Minebea leading innovation capabilities and Minebea’s worldwide market presence, reputation and leadership.
Besides continuing to develop and enhance its wireless sensor network solutions, Paradox Engineering will grow as Minebea’s software network innovation center. The synergy will deliver unparalleled excellence and ensure innovation for the Group’s present and future portfolio of value-added connected objects.
“In a genuine Internet of Things perspective, objects and components are more and more interconnected to provide increasing value to address challenges and collect opportunities for the current and future world,” states Yoshihisa Kainuma - Representative Director, President and Chief Executive Officer, Minebea Co. Ltd. “As such, we strongly believe that Paradox Engineering’s wireless and networking technologies have the potential to bring Minebea’s existing and future products and applications to the next level. Minebea is steadily investing in innovation all over the world and Paradox Engineering will spin it with its vision, unparalleled core solutions and seamless R&D capabilities.”
“This is a major success for our company: being chosen by such a market leader as Minebea to ensure its success in the Internet of Things and Smart markets is not only a validation of our vision, technologies and ability to execute, but also a perfect reward for the commitment and passion of our superior team of professionals. I am honored the company will be the innovation engine for the whole Minebea Group,” adds Gianni Minetti, President and CEO of Paradox Engineering SA.
Under the agreement approved by Paradox Engineering’s Board of Directors, Minebea Co. Ltd. is acquiring the remaining 65% of capital and assets of Paradox Engineering SA. Minebea first took a 35%
equity participation in Paradox Engineering at the beginning of 2014 with an option to increase its stake. Financial terms of the deals are not being disclosed.
Paradox Engineering will maintain its brand, product lines and headquarters in Novazzano, Switzerland, granting continuity to employees, clients and partners. Gianni Minetti is confirmed as President and CEO and BoD Chairman, steering the collaboration between Paradox Engineering and Minebea Group and continuing to facilitate the growth of human capital, technological knowledge, skills and competences. Existing business relationships will continue to be honored.
Minebea is a manufacturer of high-precision components supplying to customers in IT, telecommunications, aerospace, automotive, home appliance and other industries in the global market.Established in 1951 as Japan’s first specialized manufacture of miniature ball bearings, Minebea today has expanded its network to all over the world with over 69,000 employees and many sites of production, R&D and sales promotion in Asia, North America and Europe.
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