IMD Startup News: Adaptricity continues its success
Leoni acquires majority stake in ETH spin-off Adaptricity
Leoni, the leading European provider of cables and cable systems to the automotive sector and other industries, today secured a two-thirds holding in Adaptricity AG. The ETH spin-off will contribute software-supported consulting services based on expert electrotechnical knowledge to the Group.
Adaptricity was a winner in the 2016 IMD Startup Competition, and CEO Stephan Koch collaborated closely with IMD’s EMBA class.
Created in 1999, the IMD Startup Competition provides a unique opportunity for startups to benefit from the help and insights from participants in the MBA and the Executive MBA programs at IMD.
“This majority holding in Adaptricity gives us access to skills in the fields of software, simulation and cloud-based data analysis, which we have defined as the primary building blocks of our strategic development towards being an innovative solutions provider,” Bruno Fankhauser, member of Leoni AG's Board of Directors with responsibility for the Wire & Cable Solutions Division, said in explaining the transaction. “To remain a leading technology partner to our customers, we are investing in cable and cable systems-related, trailblazing as well as intelligent software and analysis solutions, which will furthermore develop new business models for us.”
Software and expertise for cloud-based business models
Thanks to Adaptricity, Leoni will be able to deploy proprietary software that generates time series-based simulations, for example to optimise power distribution grids by applying SmartGrid technologies. The Company will thereby contribute to intelligent power distribution.
Along with expanding Adaptricity’s core business, Leoni also aims to establish a close tie-in with its international project business. One focal area in the months ahead will be to transfer the acquired skills to a range of leading-edge applications and market segments. Leoni will also accumulate additional expertise in the areas of electronics, sensor technology, software and data analysis, which is crucial to offering intelligent cable systems and related services.
Find out more about the IMD startup competition.