(Yicai Global) March 11 -- Chinese robot manufacturer Efort Intelligent Equipment intends to increase its stake in Italian motion control system developer Robox to gain an edge in technology.
Efort will pay EUR2 million (USD2.2 million) for a 9 percent stake to have a total of 49 percent of Robox's equity, the Wuhu-based buyer said in a statement yesterday. Moreover, Efort will spend EUR1 million to buy a software license from Robox. After the transfer, the shareholding of Marzio Montorsi and Lea Montorsi falls to 51 percent.
Accessing Robox's source code is important for Efort to form an independent and user-friendly bot control platform, it said. The Chinese company will gain a non-exclusive license to use the northern Italian firm's technologies, primarily its source code and technical documentation regarding motion control products.
Moreover, Efort will pay Robox from EUR50 to EUR175 (up to USD193) per robot in order to use the latter's technologies over the next 10 years. Unit prices will depend on annual output.
In 2017, Efort purchased a 40 percent stake in Piedmont-based Robox. The pair set up a joint venture in Wuhu to develop motion control solutions for the Chinese market. The Asian partner has 60 percent of the JV's equity.
Efort's stock price [SHA: 688165] was 2.2 percent up at CNY8.96 (USD1.40) in the afternoon.
Editor: Emmi Laine, Xiao Yi