The interest in electrification continues to expand into more traditional powertrain markets with the announcement that Denmark’s Danfoss is acquiring Visedo Oy, Lappeenranta, Finland a manufacturer of electric solutions for the off-highway and marine markets. The parties have not disclosed the purchase price or other conditions of the acquisition.
Cummins and Deutz, among others, have recently made announcements and acquisitions in the powertrain electrification markets as well.
Founded in 2009, Visedo is a Finnish manufacturer of smart hybrid and electric drivetrains for electric vehicles across the marine industry, commercial vehicle and heavy-duty machinery sectors. Visedo powertrains are suitable for hybrid and electric systems within the power range of 30 to 2000kW. Visedo’s head office is located in Lappeenranta, Finland, and the company has subsidiaries in the Netherlands and Hong Kong. Visedo said exports to Europe and Asia represents 90% of its sales.
With this deal, Danfoss said it is responding to the growing customer demand for electric solutions to reduce emissions and pollution and to increase productivity.
“Acquiring new innovative technology is an important part of our investment in growth, and I am excited about the really great Visedo team joining Danfoss and our future journey. Electrification is a fast-developing area and holds tremendous potential, and Visedo is a great example of how we can focus on customer needs and at the same time strengthen our offering by providing a broader range of solutions,” says Kim Fausing, president and CEO.
Visedo will be integrated into the Danfoss Power Solutions business segment. The acquisition of this electric systems business is in line with Danfoss’ strategic focus on adding electric solutions as a key competency and a key part of the company’s approach to enable electrification across the global businesses.
“With this acquisition, we position Danfoss and the Danfoss Power Solutions business even stronger. We see a growing demand for electric solutions within off-highway vehicles and the marine market in response to the more stringent emissions regulations being imposed in these markets, as well as efficiency and productivity gains that these solutions bring. Danfoss will, based on this acquisition, continue to invest in electrification to further strengthen our position in the industry. I look forward to welcoming the highly experienced and dedicated Visedo team to Danfoss and to our business,” says Eric Alström, President, Danfoss Power Solutions.
The acquisition includes all Visedo subsidiaries globally and a design and manufacturing site located at its headquarters in Lappeenranta.
For more information: https://visedo.com/