A Wall-based provider of equipment and solutions in the technical training and education sector has been acquired by a German company, it announced recently.
Lab-Volt, which employs more than 250 people at its main production site, was purchased by Festo Didactic Inc. for an undisclosed amount. It is now doing business as Festo Didactic, part of the Festo Group, according to its website.
“Festo Didactic’s acquisition of Lab-Volt will result in a much stronger presence for both companies in the international market for technical education,” Dr. Nader Imani, CEO of Festo Didactic Inc. and Festo Didactic Ltd., said in a statement. “It gives all employees at both companies a considerably strengthened basis to develop their product range and to deal with business in the international market. The jobs at all sites have been secured and the setup of the joint activities will be designed in detail in the integration phase of the two companies.”
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