Nidec, the Japanese electric motor maker, announced that it acquired PAMA, an Italian machine tool manufacturer, and its nine affiliate companies. Nidec passed the resolution to acquire the shares of PAMA on November 28, and executed a transfer agreement on the Stock Acquisition on November 30.
The deal is estimated to be worth 15 billion yen, or $108 million, according to reporting from Nikkei Asia. PAMA brought in over $124 million (118.3 million Euro) in sales in 2021 and has production bases in Italy and China.
Nidec primarily builds hard disk drives for computers, home appliance motors and traction motors for electric vehicles, but it hopes its acquisition of PAMA can help build synergy between its already-acquired machine tool manufacturers’ product range, scale, development and manufacturing. PAMA can help the company expand its sales in Asia, Europe and America, where it already has footholds.