Lear Corporation, a global leader in automotive seating and electronic and electrical technologies, announced that it has entered into a definitive agreement to acquire WIP Industrial Automation Corporation (“WIP”). WIP is a privately held system integrator based in Spain, specializing in advanced automation solutions for industrial applications. The transaction is subject to regulatory approval and other customary closing conditions and is expected to close in the third quarter of 2024. The acquisition will further enhance Lear’s automation and artificial intelligence capabilities globally.

1326AB-B720F-M2L As a long-time Lear supplier, WIP has 25 years of industry experience in automation and is committed to providing customized solutions for industrial manufacturing by developing, integrating and deploying leading-edge automation and artificial intelligence technologies. Upon completion of the acquisition, WIP will bring strong robotics and AI-based computer vision recognition capabilities to Lear, which are critical to the company’s continuous improvement of manufacturing safety, quality and efficiency to create a modern intelligent manufacturing environment. The WIP enables Lear to operate more efficiently and to better address current macroeconomic challenges, such as rising wages due to inflation.

The transaction is Lear’s latest strategic investment following the successful acquisition of ASI Automation (“ASI”), Thagora Technology SRL (“Thagora”) and InTouch Automation (“InTouch”). It aims to further enhance the company’s automation and digitalization capabilities worldwide. In the future, by combining the expertise of WIP with ASI, Thagora and InTouch, Lear will have access to a robust portfolio of automation solutions and technologies covering all key areas of the manufacturing process, accelerating the innovative development of next-generation automation technologies.

1326AB-B720F-M2L “The intelligent manufacturing engineering capabilities that WIP brings to Lear are critical to driving innovative automation solutions for Lear’s global operations.” “This acquisition will support the company’s long-term strategy to strengthen our market leadership through operational excellence, and we are very pleased to welcome the WIP team,” said Ray Scott, Lear’s chief executive officer and president.

“This transaction provides a good opportunity for WIP to become part of a world-class automotive company. Going forward, we are committed to fully integrating WIP’s expertise in robotics and artificial intelligence technologies with Lear’s industry-leading experience in automotive product design, engineering and manufacturing processes.” Angel Rodriguez Fernandez, CEO & Co-owner of WIP, said: “Lear has been a valued customer for many years and we are excited to join the Lear family and look forward to continuing to innovate with our combined capabilities in the years ahead.”