SAN JOSE, Calif., Oct. 19, 2011 /PRNewswire/ -- Process automation specialist Endress+Hauser has acquired a stake in Finesse Solutions, a US company that develops, produces and distributes sensors, hardware and software for bioprocess engineering.
Endress+Hauser intends to strengthen its position in the area of biotechnology through this cooperation. "Biotechnological procedures will play an increasingly important role in the future, not only in the life sciences industry but also in other industries such as the chemical industry to manufacture products in a more environmentally friendly and economical fashion," emphasizes Klaus Endress, CEO of the Endress+Hauser Group. "Our partnership with Finesse offers us the possibility of gaining experience in this area without neglecting our core business."
Combined offers for customers
Finesse Solutions will profit from leveraging the know-how of the new strategic relationship to extend its product portfolio and to enhance its global sales and service capabilities. The two companies intend to cooperate closely in relation to products, markets and customers, and to complement each other, for example, in the provision of global after-market services to bioprocess end users. "Endress+Hauser and Finesse Solutions have many common customers who can profit from this cooperation," stated Finesse CEO Barbara A. Paldus.
The previous majority shareholder, Skymoon Ventures, will hold an equal stake to Endress+Hauser. The company's staff of about 50 will maintain their ownership in the company. Endress+Hauser will elect two representatives to the Board of Directors, which Barbara A. Paldus will continue to chair.
The Endress+Hauser Group
Endress+Hauser is a global leader in measurement instrumentation, services and solutions for industrial process engineering. In 2010, the Group generated with over 8,500 employees worldwide net sales of 1.3 billion euros.
|SOURCE Finesse Solutions, Inc.|
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