That investment could create as many engineering jobs in the UK as the company – a startup formed to apply digital control to medium-to-high voltage electrical systems – had when it closed earlier this year.
Kaltenborn would not say how much his company has spent to acquire the Amantys IP but provided a sense of value he puts on the acquisition. "The amount of money we invested in acquiring the assets and IP is much much less than the amount of money I will be looking to invest for the long-term," he said.
When Amantys closed earlier this year it came as shock to Kaltenborn who had experience of working with Amantys prior to joining MR three years ago. "These guys have always delivered on the technical side," he told eeNews Europe.
Kaltenborn, as head of portfolio management at MR, was eager to open negotiations with whatever remained of Amantys and moved quickly to secure the assets and intellectual property for MR (see Amantys to continue under German owner).
However, Kaltenborn acknowledged that IP is much less valuable without the people to interpret, implement and extend it. "We are trying to get the technically knowledgeable people back on board," Kaltenborn said.
The proposal is to establish a subsidiary company in the UK to continue the work of Amantys and use the Amantys trade name and brands. This means that the Cambridge company will be a technology hub to continue the work that Amantys began in power grid and smart grid and extending it into other areas, such as automotive and locomotive transportation.
Next: Report to Kaltenborn