Chinese home appliance manufacturer Midea Group is betting big on high tech manufacturing.

On Wednesday, Midea made a whopping $5 billion USD bid for a more than 30% stake in German robotics company Kuka AG. Kuka specializes in industrial automation, where robots autonomously complete industrial tasks, such as welding, assembling components, and load-bearing.

Acquiring a more than 30% stake in Kuka means Midea will have to make an offer for all of Kuka’s outstanding shares. Midea’s bid is an all-cash proposal at €115.00 per share (about $130 USD) for all issued shares of Kuka. If the Chinese company’s bid is accepted, Kuka will remain independent and listed in Germany, according to Midea’s press release.

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Eva Xiao

Eva Xiao is a tech reporter based in Shanghai. Contact her at eva.xiao@technode.com or evawxiao (wechat & twitter).