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Foxconn buys Austrian IT group S&T shares

Staff Writer |
Taiwan's Ennoconn, part of Foxconn, has bought new shares in Austrian IT group S&T from a 10 percent capital increase and will further raise its holding to 29.4%, S&T said.

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S&T said it would use the funds from the capital increase to buy a 29.9 percent stake in German computer maker Kontron, adding it had no plans to buy further shares in the group or make a full takeover offer.

S&T said it saw important synergies in a relationship with Foxconn and Kontron, without providing financial details.

"Using S&T's software engineering resources, the three companies have the potential to be a world leader in the fields of Internet of Things and Industry 4.0," it said.

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