Chinese IT manufacturer acquires Finnish Jot Automation
Chinese Wuxi Lead Intelligent Equipment acquires Finland-based production automation and testing solutions company Jot Automation.
The main owner of Jot Automation, Oulu-based family company Head Invest, has signed the share purchase agreement for the entire stock of Jot Automation to the Chinese stock exchange-listed company Wuxi Lead Intelligent Equipment. The transaction is intended to finalise during 2016 and is believed to strengthen both Jot’s and Wuxi’s position on international markets.
“Jot has always been a pioneer in its industry and gone through many changes in the forefront,” says Veikko Lesonen, founder of JOT, entrepreneur and Chairman of Head Invest’s Board. ”Now, the time has come for another change. Joining the Wuxi Lead Group means that JOT’s story, relying on a history of nearly 30 years, can continue and grow in Finland and in Oulu.”
According to Wuxi, the transaction represents a significant leap in Jot’s globalisation and helps the company to strengthen its position as a leading global supplier of automation solutions. Wuxi’s aim is to make Jot the world’s leading operator in its field.
“I’m very impressed by Jot’s successful history, technological knowhow and especially the personnel,” says Wuxi Lead’s CEO and Chairman of the Board Yanqing Wang. “The Oulu region with its innovativeness and vitality have also made an impression on me and I’m looking forward to the opportunity to co-operate in the area.”
Wuxi offers, among other things, lithium battery manufacturing equipment comprising power batteries for power electrical vehicles; and digital battery manufacturing equipment for mobile phones, tablet PCs, and others. The company’s main markets are in the US, Germany and Japan. In addition, the company has customers in more than 20 other countries.