OSAKA, Japan, June 01, 2022–(BUSINESS WIRE)–Nitto Denko Corporation (headquarter: Osaka, Japan, President: Hideo Takasaki, hereafter Nitto) (TOKYO:6988) and Bend Labs, Inc. (US, Co-CEO: Jared Jonas, Colton Ottley, hereafter “Bend”) have agreed on Nitto’s acquisition of Bend. Bend merges into the Nitto Group on June 1, 2022 and begins its enterprise as Nitto Bend Technologies. Hereafter, they may mix Bend’s sensor gadget applied sciences with Nitto’s strengths to develop next-generation applied sciences and merchandise, and to develop new companies which make the most of sensor-acquired information.
Nitto develops new services by strategically devoting assets to Nitto’s three focus domains: Information Interface, Next-generation Mobility, and Human Life. The acquisition of Bend may even speed up innovation in these domains.
The versatile sensor developed by Bend concurrently measures “bend”, “stretch” and “force” at excessive accuracy, in addition to having wonderful flexibility and sturdiness. The versatile sensor is predicted to satisfy the evolving technical calls for in numerous fields, together with automation in the automotive area and distant monitoring in the digital healthcare area. Through this acquisition, Nitto goals to create new companies by combining Nitto’s world basis and core applied sciences, reminiscent of adhesive expertise and versatile printed circuit expertise, with Bend’s sensor gadget expertise.
Besides anticipated functions in the ever-changing automotive and healthcare fields, Nitto additionally anticipates these applied sciences to be utilized in fields reminiscent of sports activities and robotics. Furthermore, Nitto considers constructing a platform to build up sensor-acquired information and deploying providers using the acquired information.
Overview of the acquired firm:
|
Former Company Name |
Bend Labs, Inc. |
|
New Company Name |
Nitto Bend Technologies, Inc. |
|
Location |
Farmington, Utah, United States |
|
Year of Establishment |
2013 |
|
Representatives |
Jared Jonas, Colton Ottley |
|
Number of Employees |
9 |
|
Sales (in FY2021) |
5.9M US$ |
The influence of this acquisition on Nitto’s consolidated earnings forecast for FY2022 is insignificant. In case important impact is acknowledged, Nitto will report it thereafter.
View supply model on businesswire.com: https://www.businesswire.com/news/home/20220601005523/en/
Contacts
[For any inquiries about this press release]
Aki Kuwabara
Brand Strategy Department, Nitto Denko Corporation
Tel: +81-6-7632-2101/FAX: +81-6-7632-2568
Nitto Acquires Bend Labs, Inc. in the United States & More Latest News Update
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