Battery Ventures, a global investment firm specializing in technology, has recently completed the acquisition of steute Technologies GmbH & Co. KG. Steute, headquartered in Löhne, Germany, boasts a rich history of over six decades in developing cutting-edge technology solutions for the medical and industrial sectors. The company is renowned for its production of switches, sensors, and other innovative products that enhance automation and safety, with a strong focus on wireless technology.
Steute’s product portfolio includes certified medical-control devices utilized in operating rooms worldwide, playing a crucial role in the precise control of medical equipment. Moreover, the company's sensors and switching devices are vital in industrial settings, ensuring safety and reliability, especially in challenging environments like explosive or corrosive atmospheres and extreme temperatures. Additionally, steute offers automation solutions that enable wireless connectivity among essential manufacturing components on the factory floor.
Jesse Feldman, General Partner at Battery Ventures, expressed great excitement about the collaboration, emphasizing steute’s dedication to innovation and quality. Feldman will be joining steute's supervisory board. Justin Rosner, Principal at Battery Ventures, highlighted steute’s technological prowess and customer engagement as key factors driving its business growth. Rosner believes that with continued support from Battery Ventures, steute can further expand through organic growth and strategic mergers and acquisitions (M&A).
Stefan Schmersal, the owner of steute who will remain on the supervisory board, mentioned that partnering with Battery Ventures will leverage the firm’s vast experience and business connections. Schmersal expressed confidence that Battery Ventures can assist steute in maintaining and accelerating its growth trajectory.
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