Johnson Electric Holdings Limited (SEHK:179) acquired an 80% stake in Pendix GmbH for $20.8 million on October 13, 2022. All Pendix founders, who started the company in 2013, will remain shareholders of Pendix and continue in their active management roles to lead the business growth plans.

Johnson Electric Holdings Limited (SEHK:179) completed the acquisition of an 80% stake in Pendix GmbH on October 13, 2022.