Alps Electric to Acquire Greina Technologies, Inc. as Part of Sensor Business Strengthening
May 24 2018 - 10:33PM
Business Wire
Alps Electric Co., Ltd. (TOKYO: 6770; President: Toshihiro
Kuriyama; Head Office: Tokyo) today announces that on May 14, 2018
the company signed a share purchase agreement with Greina
Technologies, Inc. (Salt Lake City, Utah, U.S.A.; President/CTO:
Daniel J. Lee) whereby Alps Electric will acquire Greina
Technologies, making it a wholly owned subsidiary.
Alps Electric signed a share purchase agreement with Greina
Technologies on May 14, 2018. Through the agreement, Alps Electric
aims to add even greater value to its sensing solutions for the
automotive market, as well as the consumer electronics and mobile
market, by combining high-accuracy positioning technology based on
original algorithms developed by Greina Technologies with Alps
Electric’s compact, high-performance wireless communication module
technology.
An engineering firm specializing in positioning systems, Greina
Technologies was established in Salt Lake City, Utah, in September
2012. Engaging in such activities as design and development of
wireless electronic systems and provision of consulting services,
the company has grown rapidly on the back of its technological
development, including in the area of high-accuracy positioning
based on original algorithms.
The acquisition will make it easy to build close-range sensing
systems, with positioning accuracy down to tens of centimeters and
outstanding security performance, by combining Greina Technologies’
ranging technology with wireless communication technology that Alps
Electric has built up over many years. Alps Electric will work to
strengthen sensor business by deploying this advanced sensing
technology in the automotive market as part of efforts to develop
highly original products and create business within the rapidly
expanding CASE domains – connected cars, autonomous driving,
sharing and services, and electric vehicles.
The acquisition will have minimal impact on Alps Electric’s
financial performance for the fiscal year ending March 31,
2019.
Outline of Greina Technologies
Name: Greina Technologies, Inc. (RF Ranging, Inc.)
http://www.rfranging.com/
Location: Salt Lake City, Utah, U.S.A. Established: September 2012
Representative: Daniel J. Lee Main business: Wireless system
development and design, consulting, manufacturing, etc.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180524006515/en/
Inquiries About This Press ReleaseAlps Electric Co.,
Ltd.Yasuhiro TakedaPublic & Investor Relations Group, Corporate
Planning Officeyasuhiro.takeda@jp.alps.com