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Battery Ventures Agrees To Acquire Medical And Industrial-automation Company Steute Technologies
Battery Ventures, a global investment firm specializing in technology, has recently acquired steute Technologies GmbH & Co. KG. Steute, headquartered in Löhne, Germany, boasts over six decades of experience in developing cutting-edge technology solutions for the medical and industrial sectors. The company is renowned for its production of switches, sensors, and other products that enhance automation and safety, with a strong focus on wireless technology.
Steute’s product portfolio includes certified medical-control devices utilized in operating rooms worldwide, playing a crucial role in the precise control of medical equipment. Moreover, steute's sensors and switching devices are vital in industrial settings, ensuring safety and reliability, especially in challenging environments like explosive or corrosive conditions and extreme temperatures. The company also provides automation solutions that wirelessly connect essential manufacturing components on the shop floor.
Jesse Feldman, General Partner at Battery Ventures, expressed excitement about the collaboration, emphasizing steute’s dedication to innovation ...
... and quality. Feldman will be joining steute's supervisory board. Justin Rosner, Principal at Battery Ventures, highlighted steute’s technological leadership and customer partnerships as key drivers of its business growth. Rosner believes that with continued support from Battery, steute can further expand through organic growth and strategic mergers and acquisitions (M&A).
Stefan Schmersal, the owner of steute who will remain on the supervisory board, mentioned that teaming up with Battery Ventures will leverage the firm’s vast experience and business connections. Schmersal expressed confidence that Battery can assist steute in maintaining and accelerating its growth trajectory.
Read More - https://www.techdogs.com/tech-news/business-wire/battery-ventures-agrees-to-acquire-medical-and-industrial-automation-company-steute-technologies
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