Foxconn subsidiary takes a stake in Kontron

Ennoconn Corporation has subscribed to S&T AG's 10% capital increase. The former will follow that up with the acquisition of further shares in the latter, giving Ennoconn a 29.4% stake in S&T, making it the major shareholder in S&T. S&T AG will use the inflow of funds to acquire a 29.9% stake in Kontron AG, Augsburg. With these transactions, Ennoconn, S&T AG and Kontron AG can forge a close working relationship in the Internet of Things/Industry 4.0 sector. This relationship will give the trio a leading position around the globe in this area. The new shares will be subscribed for by Taiwan-based Ennoconn Corporation, a producer of embedded industrial computer systems, and also a subsidiary of Hon Hai Precision Industry Co., Ltd., which – if anyone has missed – is the worlds biggest EMS provider.