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Lear Corporation completes acquisition of WIP Industrial Automation to enhance automation capabilities

Jul 17, 2024•12 months ago

Acquiring Company

Lear Corporation

Acquired Company

WIP Industrial Automation

SouthfieldValladolidInformation TechnologyIndustrial AutomationRoboticsArtificial IntelligenceManufacturingSoftware

Description

Lear Corporation, a global automotive technology leader, has successfully completed the acquisition of WIP Industrial Automation. This strategic acquisition equips Lear with strong robotics and AI-based computer vision capabilities, enhancing its automation solutions and positioning the company for future growth and operational excellence.

Company Information

Company

Lear Corporation

Location

Southfield, Michigan, United States

About

Lear, a global automotive technology leader in Seating and E-Systems, enables superior in-vehicle experiences for consumers around the world. Lear's diverse team of talented employees in 38 countries is driven by a commitment to innovation, operational excellence, and sustainability. Lear is Making every drive better™ by providing the technology for safer, smarter, and more comfortable journeys. Lear, headquartered in Southfield, Michigan, serves every major automaker in the world and ranks 174 on the Fortune 500.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed

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