MR is a leading developer of power transformers, employs about 3000 people and has revenues of €650million. It says the deal represents another important stage in the implementation of its long term technology strategy and opens up a variety of technological possibilities for expansion and optimization of the future product and application portfolio.
As part of the deal, MR has established a wholly owned subsidiary in Cambridge with Amantys Power Electronics. Activity will include R&D, as well as the manufacture, marketing and sales of products and services for power electronics and the regulation and control of electrical networks.
The team will include a number of ex Amantys employees and MR is looking to 'reactivate and optimise' the existing product portfolio. At the same time, Amantys' technology will be further developed.
Amantys was established in 2010, with backing from ARM, with the intention of revolutionising the medium and high voltage power electronics sector. However, it failed to gather momentum and was shut in May 2015.
