Hitachi's goal in this acquisition is to gain access to Sullair's global sales network, mainly in North America. Furthermore, Hitachi will provide Sullair's customer base with digital solutions or IoT-compatible products that leverage Hitachi's expertise in IT and OT (operational technology).

Hitachi has been providing air compressors mainly in Japan and Asia as part of one of its core business areas. It now plans to add its products to Sullair's complementary product line-up, and utilise the global sales network Sullair has established and increase the scale of the air compressor business.

Masakazu Aoki, executive vice-president at Hitachi and CEO of the Industrial Products Business Unit, said: "I am very pleased to announce that Hitachi has today agreed with Accudyne to proceed with the acquisition of Sullair, a leader in the air compressor business. Through this fusion with Sullair's strengths, Hitachi will increase its competitiveness and strengthen the air compressor business, and at the same time, by utilising Sullair's global footprint, mainly in North America, we will accelerate the global roll-out of the Social Innovation Business."

The agreed purchase price of Sullair is US$1.245 billion.