Minebea buys Paradox Engineering to boost smart city offering
September 15, 2015
Japanese company Minebea has acquired the remaining 65 per cent interest in Swiss M2M company Paradox Engineering to make it a wholly-owned subsidiary. Minebia has owned a 35 per cent stake since December 2013.
This is part of its goal to boost sales of lighting device-related products and measuring components for smart city projects.
Paradox Engineering can provide M2M technologies as well as wireless communications and networking. In coordination and alliance with Paradox Engineering, Minebea is committed to focusing on the IoT as well as the expanding social infrastructure markets surrounding smart cities, smart grids, health and usage monitoring systems, home area networks and industrial wireless smart sensors.
Paradox’s network system has been adopted as the core system for the delivery of smart city projects in various countries. In particular, its communications and platform technologies have attracted attention worldwide and can communicate bi-directionally and end to end with a wide variety of 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 a wholly-owned subsidiary, Minebea strives to boost 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 programme for the JCM (Joint Crediting Mechanism) model project to be implemented in Cambodia as well as the street lighting device-related products and measuring components used in wireless sensor networks for cities and industrial uses.
The target is either to boost the net sales to reach one 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 communications and networking technologies in other fields,” said a statement.