Greina Technologies Inc., which does business in Salt Lake City as RF Ranging Inc., has been acquired by Alps Electric Co. Ltd. of Tokyo. Greina will become a wholly owned subsidiary of Alps Electric, according to terms of the deal signed in May.
Financial details of the acquisition were not disclosed.
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Founded in 2012, Greina Technologies is an engineering firm specializing in positioning systems. Engaging in such activities as design and development of wireless electronic systems and provision of consulting services, the company has grown rapidly on the back of its technological development, including in the area of high-accuracy positioning based on original algorithms. The company employs 125 in its Salt Lake City operations.
Through the agreement, Alps Electric aims to add greater value to its sensing solutions for the automotive market, as well as the consumer electronics and mobile market, by combining high-accuracy positioning technology based on original algorithms developed by Greina Technologies with Alps Electric’s compact, high-performance wireless communication module technology, the company said.
Founded in 1948, the Alps Electric Group has research and development, production and sales locations in Japan and around the world, including in the Americas, Europe, Southeast Asia, Korea and China. The company has over 36,000 employees in its parent company and 84 subsidiaries.{/mprestriction}
