WEG S.A. (BOVESPA:WEGE3) acquired remaining 49% stake in BIRMIND Automação e Serviços S.A. on July 27, 2023. WEG already held a controlling interest of 51% in the company and has now acquired the remaining 49% of the shares, making the company sole owner. The purchase is part of WEG's digital business growth strategy, which since 2020 has used BirminD technology in its solutions. As a part of completion, BirminD will continue with the development of products that were already underway at BirminD, as well as promote an even greater integration of the Sorocaba teams with other teams in the company, involved with other WEG Artificial Intelligence projects and software product development and the operation will be maintained in its entirety, which also includes employees and service providers.
WEG S.A. (BOVESPA:WEGE3) completed the acquisition of remaining 49% stake in BIRMIND Automação e Serviços S.A. on July 27, 2023.