Panasonic, a multinational electronics company, completed the acquisition of INNOVA, a company specialized in the development and production of solutions for heating, ventilation and air conditioning. Financial terms were not disclosed. "I came to realise that combining our talents and creative spirit with the resources of Panasonic as an industry leader was the right way for us to continue to grow and prosper amidst the global competition. I appreciate Panasonic for trusting in our abilities and attitude as entrepreneurs and investing in us as a strategic partner with respect to our historical relationship since our founding. Based on the philosophy of this partnership, INNOVA can not only continue to develop ideas to create unique new products but also realise solutions for more comfortable lives in the future, thanks to the global technology support that Panasonic will provide," Oreste Bottaro, INNOVA Founder and CEO.