Siemens to acquire the industrial drive technology business of ebm-papst.

Siemens, a German multinational technology conglomerate, agreed to acquire the industrial drive technology business of ebm-papst, a manufacturer of electric motors and fans. Financial terms were not disclosed. “Ebm-papst’s innovative portfolio of mechatronic drive systems and its highly qualified people are an excellent fit for Siemens. The acquisition will enable us to tap new business and customer potential in the rapidly growing market for intelligent, battery-powered drive solutions in intralogistics as well as mobile robot solutions," Cedrik Neike, Siemens CEO of Digital Industries.