Chinese private investment firm AGIC Capital, which was established in 2015, has acquired Gimatic, an industrial robot company in Italy.

AGIC Capital revealed that the company has reached an acquisition agreement with Gimatic, and it aims to acquire the latter for between EUR100 million and EUR150 million. However, the Chinese company did not disclose the detailed price.

Founded by Henry Cai, former executive chairman of Investment Banking Asia Pacific at Deutsche Bank, AGIC Capital aims to create a smart industry and it focuses on the so-called fourth generation of the industrial revolution.

The acquisition of Gimatic is reportedly the first transaction that has been independently completed by AGIC Capital. The company is a member of a consortium led by China National Chemical Corporation and this consortium acquired KraussMaffei Group, one of the largest machinery suppliers in Germany, for EUR925 million in January 2016.

Gimatic was founded 31 years ago and the company achieved over 20% annual operating revenue growth over the past three years. Gimatic's 80% businesses were contributed by the European market and the ratio from the Asian market was less than 10%. However, the Asian market is considered the market with the most potential.