Global Equipment Services (GES), headquartered in San Jose, California, has made an investment in Finnish JOT Automation Ltd., entitling it to a significant ownership of the company. JOT is a pioneer in automation and testing solutions for electronics production, while GES offers equipment design, manufacturing, and maintenance services, especially for the semiconductor industry.
The sale of JOT to the Chinese Wuxi Lead Intelligent Automation announced earlier was not closed. Consequently, JOT Automation will continue as a Finnish company with an expanded ownership base, part of the Head Invest Group owned by the family of JOT founder Veikko Lesonen.
As a part of the ownership arrangement, GES and JOT Automation have agreed on a strategic partnership, where JOT Automation transfers majority of its subcontracted manufacturing to GES.
"This is the start of JOT Automation operating in a new way. Some of the largest technology companies in the world have become our customers, our ownership base has been expanded, and we have managed to make our business operations scalable with the help of a strategic manufacturing partner," comments Lauri Antila, JOT Automation Ltd.'s Chair of the Board.
"Our aim is to develop JOT Automation into a leading actor in the growing electronics production automation and testing market. This will bear fruit, as electronics production is also being automated in the former so-called cheap labor countries like China", says Antila.
“Both companies’ shared commitment to collaboration and building lasting value to customers, along with our respective track records of delivering world class quality products and customer service, position us as a world leader to deliver unmatched capabilities and speed to solutions that are critical to our customers' long-term success”, comments Don Tran, GES Chairman & CEO.
JOT Automation Ltd.'s extraordinary general meeting decided on the issue to GES.
Lauri Antila, Harri Suutari, Klaus Oehlandt and Don Tran were elected to the Board of JOT Automation. Petri Halonen will continue as the company's CEO.
JOT Automation Ltd.
Lauri Antila, Chairman
+358 4052 22333
James McCormick, CFO
Phone: +1 650 954 9000