ebm-papst Group announced that it will sell its Industrial Drive Technology (IDT) division to Siemens. Both parties have signed an agreement to this effect. With the intended sale to Siemens, IDT will gain international market access through a larger global sales organization. This will open up new horizons for innovation and further successful business growth. All employees of the division will be taken over by Siemens. The parties have agreed not to disclose the exact price. The transaction will be completed by mid-2025 and is subject to foreign trade and merger control approvals.