Siemens Aktiengesellschaft (SIEGY) announced that it closed the previously announced sale of Innomotics to KPS Capital Partners. This move marks a step toward optimizing SEIGY's portfolio. Siemens' Strategic Transaction With KPS On May 16, 2024, SIEGY inked a deal with KPS to sell its Innomotics business for €3.5 billion ($3.85 billion). Siemens decided in November 2022 to consolidate its significant drive and electric motor companies under one roof and operate them independently outside of Siemens's core b ...