Ennoconn enters final agreement to acquire NCR. known
NEW TAIPEI CITY, Taiwan, December 12, 2021 (GLOBE NEWSWIRE) – Ennoconn Corporation (Taiwan Exchange / 6414.TW), a leading global provider of integrated cloud management services, industrial IoT and embedded technology, today announced a definitive agreement to acquire NCR’s Budapest manufacturing facility, including property, plant and equipment, personnel and transfer of manufacturing responsibility.
This transaction enables Ennoconn Corporation to a finance subsidiary of Foxconn, significantly expand its presence in Europe through the acquisition of NCR’s world-class manufacturing, integration and assembly operations in Budapest. Ennoconn plans to continue producing ATM, self-checkout (SCO) and point-of-sale (POS) solutions for NCR’s European banking and retail demand.
âEnnoconn will use this facility and additional resources to advance manufacturing systems and strategic initiatives for digital transformation and to drive the development of new products, services and industrial manufacturing methods for its international customer base in core industries, including smart cities, smart manufacturing, smart retail, financial Services and Media & Entertainment, âsaid Steve Chu, CEO and Chairman of Ennoconn. “Ennoconn also sees an exponential demand for AIOT, IOT-integrated cloud services applications in smart logistics and warehousing and smart factories.”
The transaction is expected to close in mid-2022. Financial terms of the transaction were not disclosed.
About the Ennoconn Group
The Ennoconn Group, a global provider of technology solutions, offers first-class industrial IoT and embedded technology, design manufacturing services, IT & system integration services in high-growth markets, including Smart City, Smart Manufacturing, Smart Retail, Financial Services and Media & Entertainment. With its commitment to digital transformation, Ennoconn’s strategy “Digitalization as a Service” integrates and delivers manufacturing systems with new technology solutions that meet the revolutionary demand for cloud data storage, machine learning / AIoT / 5G / Cloud IoT integration with an overarching strategy for digital Transformation address all internal design, manufacturing and supply chain platforms and disciplines. In 2007 Ennoconn became a subsidiary of Foxconn technology group, which is also headquartered in New Taipei City.