Another Danfoss Controls Acquisition
By Mike Osenga12 July 2018
Danfoss has announced an agreement to acquire the Remote Control business from the Spanish company Ikusi – a provider of telecommunication networks and wireless remote controls. The Remote Control business of Ikusi includes equipment and technologies for wireless operation and control of truck-mounted cranes, winches, off-road machines, and other applications.
The Remote Control business will be integrated into the Danfoss Power Solutions business segment. The acquisition includes a development and manufacturing site in Spain and sales offices in USA, Germany and Dubai. The acquisition is subject to necessary approvals by relevant agencies, such as competition authorities. The acquisition is expected to be fully completed during the third quarter 2018. The parties have not disclosed the purchase price or other conditions of the acquisition.
Danfoss said the acquisition reflects its strategic focus on utilizing connectivity as a competitive advantage. “Acquiring new innovative technologies is an important part of our investments in developing our business, and I am excited about the team of experts from Ikusi Remote Control joining Danfoss,” ,” said Kim Fausing, president and CEO of Danfoss.
“Remote controls hold a tremendous potential, and the acquisition is a great example of how we by adding new digital technology can strengthen our portfolio of advanced components and systems and offer a broader range of solutions to the benefit of our customers,” Fausing said.
“By adding wireless remote control technology to our core competencies in Danfoss Power Solutions, we further strengthen our global position and our system offering as a part of the Plus+1 software development platform. We have a great opportunity to differentiate by offering a complete system with high focus on functional safety, best in class performance and cost-effective solutions’” said Eric Alström, president, Danfoss Power Solutions.
“We will invest in the business in San Sebastian which will become our center of excellence for remote controls keeping a close relationship with the community and the local university,” Alström said.