Siemens has today announced plans to acquire the string inverter business of the KACO new energy GmbH for an undisclosed sum. The project development and EPC activities are not part of the acquisition. The closing of the transaction is subject to regulatory approval and expected in the first half of 2019.
"With Siemens we are happy to have found a buyer where we see our technological know-how in good hands. Embedded in a strong corporate group, KACO new energy is well prepared for the challenges of the coming years", say Ralf Hofmann, executive manager of KACO new energy, as well as Ralf Sturm and Dr. Marc-Olaf Grumann, executive managers of the Sturm Family Office.
"With this acquisition, Siemens gains access to the latest technology, while KACO new energy will benefit from the resources required to scale up. Together, we will be able to apply the technology in exciting growth segments", explains Cedrik Neike, Managing Board Member of Siemens AG.
Jean-Christoph Heyne, Head of Siemens' new Future Grids business, adds: "Siemens is in a strong position to succeed in technology that supports the energy and mobility transition. The acquisition of KACO new energy enhances our portfolio in attractive growth segments at the grid edge. Our new Smart Infrastructure Operating Company comes into operation on April 1, 2019 where our strengths in electrification and buildings will enable us to thrive in the market and continue to expand in the areas of decentral energy, renewables, storage and electric vehicle charging infrastructure."