Panasonic Corporation has acquired a controlling stake in Zetes, the auto-ID specialist, and is launching a mandatory takeover bid for the 43 per cent of the shares that it does not now own.
It believes that the combination of both Panasonic’s and Zetes’ businesses “offers significant opportunities to exploit the future growth both in supply chain solutions and security solutions, and Panasonic is uniquely positioned to support Zetes to execute its future growth plans globally”.
It said: “Through their cooperation, Panasonic and Zetes will be able to expand the breadth of solutions and services offered to customers by the combination of Zetes’ identification and mobility solutions with Panasonic’s advanced research and development capabilities, global reach and technological expertise to better meet growing global customer needs.”
Panasonic plans to keep Zetes and its subsidiaries as a separate business division for the foreseeable future. It said that maintaining the strong employee culture within Zetes would be essential to ensuring the future success of the business.