Minebea to Make Paradox Engineering SA a Wholly-Owned Subsidiary
Resource from: Minebea Likes:164
Sep 10,2015
Following up on the announcement dated December 2, 2013 regarding the acquisition of equity stakes in Paradox Engineering SA ("Paradox Engineering") by Minebea Co., Ltd. ("Minebea"), Minebea has decided to acquire the remaining 65% interest in Paradox Engineering to make it a wholly-owned subsidiary. Aiming at moving further ahead on its "Third Arrow" (boost sales of lighting device-related products) and "Fourth Arrow" (take Measuring Components BU sales to 50 billion yen) initiatives among its New "Five Arrows" strategies, Minebea has made a decision to acquire 100% ownership of Paradox Engineering.
Paradox Engineering is a Swiss-based company which is capable of providing innovative M2M ("Machine to Machine", or communications with the same type of varied devices) technologies as well as the wireless communication technologies and network solutions. In coordination and alliance with Paradox Engineering, Minebea is committed to focusing on the Internet of Things (IoT) where a variety of things will be interconnected in various forms as well as the expanding social infrastructure markets surrounding Smart Cities / Smart Grids, etc., HUMS (Health and Usage Monitoring System) (Note*1), HAN (Home Area Network) (Note*2) and industrial wireless smart sensor (industrial remote and condition monitoring) markets, etc.
Superior technologies of Paradox Engineering are highly acclaimed as evidenced by the fact that its network system has been adopted as the core system for the delivery of Smart City projects in multiple countries. In particular, its communication and platform technologies have attracted attention worldwide and are considered as one of the best solutions, enabling to communicate bidirectionally and end to end with a wide variety of different data transmission devices through its open standard networking platform, thereby allowing the machines and devices to communicate with each other.
Through the acquisition of the remaining interest in Paradox Engineering to make it our wholly-owned subsidiary, Minebea strives to carry out its New "Five Arrows" strategies steadily and consistently by boosting the sales of such components as drivers for wireless street lighting to be used in the Smart City projects including Minebea's plan unofficially selected by the Ministry of the Environment of Japan as the financing program for the JCM (Joint Crediting Mechanism) model project to be implemented in Cambodia as well as the street lighting device-related products, measuring components used in the wireless sensor network for the cities and industrial uses with a view to accomplishing our new goal of either boosting the net sales to reach 1 trillion yen or achieving 100 billion yen operating income at the earliest possible date.
We will also accelerate our growth strategy in anticipation for the new challenges by way of exploring the opportunities for the application of wireless communication and networking technologies in other fields
Outline of Paradox Engineering
(1) Company name Paradox Engineering SA
(2) Location of Headquarters Via Passeggiata 7, CH-6883 Novazzano, Switzerland
(3) Representative Gianni Minetti
(4) Year of Establishment 2005
(5) Number of Employees 29
(6) Principal lines of business A solution provider and operator of wireless and networking technologies
(Note *1) HUMS (Health and Usage Monitoring System)
A system designed to enhance the performance and effectiveness of maintenance of machines by monitoring the situation such the use of machinery, etc.
(Note *2) HAN (Home Area Network)
A household networking system which is designed for enabling communications between various devices and major electric appliances in the home.
Media inquiries: Minebea Co., Ltd. Corporate Communications Office
Phone: +81-(0)3-6758-6703 FAX: +81-(0)3-6758-6718
(Minebea)
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1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
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