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Ennoconn Announces Definitive Agreement to Acquire NCR Budapest Manufacturing Facility
December 13, 2021 | GlobeNewswireEstimated reading time: Less than a minute
Ennoconn Corporation, a global leader in integrated cloud management services, Industrial IoT and embedded technology, announced a definitive agreement to acquire NCR’s Budapest manufacturing facility, including physical assets, personnel, and the transfer of manufacturing responsibilities.
This transaction allows Ennoconn Corporation, a financial subsidiary of Foxconn, to significantly expand their footprint in Europe by acquiring NCR’s World Class manufacturing, integration and assembly operations in Budapest. Ennoconn plans to continue to produce ATM, self-checkout (SCO) and point of sale (POS) solutions for NCR’s European Banking and Retail customer demand.
“Ennoconn will utilize this facility and additional resources to advance manufacturing systems, Digital Transformation strategic initiatives - driving the creation of new products, services, and industrial manufacturing methodologies for its international customer base in core industries, including among others, Smart Cities, Smart Manufacturing, Smart Retail, Financial Services and Media & Entertainment,” said Steve Chu, CEO and Chairman of Ennoconn. “Ennoconn also sees 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.
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