GLONGHUI, March 12 | People familiar with the matter revealed that Nidec Corporation (Nidec) and private equity firm KPS Capital Partners are competing to acquire Siemens' large-scale motor business Innomotics. Siemens has invited the acquirer to conduct a second round of bidding for Innomotics. According to reports, in 2023, Siemens will split and restructure the large-scale transmission application division, Siemens Digital Industry Group, and related businesses of Sykatec and Weiss Spindeltechnologie, which are independently operated, and established Innomotics to integrate businesses such as low voltage to high voltage motors, gear motors, medium voltage inverters, and electric spindles, and provide related services and project support. According to a previous report in Germany's “Business Daily”, Siemens hopes to collect the first batch of bids by the end of February, and hopes that the sale section will receive more than 3 billion euros. The sale will be completed within the September fiscal year.