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Makita to Acquire Panasonic's Power Tool Business
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The plan is to move into factory fastening by combining Makita’s battery and motor technologies with Panasonic's fastening and IoT tech.
Power tool maker Makita announced Tuesday that it plans to acquire the power tool business of fellow Japanese manufacturer Panasonic.
Panasonic created a new division, known as Electric Works Company, to house its power tool business prior to the sale. Under the agreement, Panasonic will transfer all shares of the power tool business to Electric Works, then transfer those shares to Makita Corporation.
Pending regulatory approval, Makita will acquire all product development, manufacturing and sales of Panasonic’s power tool products business, including factory and construction fastening equipment and factory‑related IoT solutions. The segment includes some 31,000 employees.
Transaction details were not disclosed.
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