Previously, the firm outsourced the design, manufacturing and testing of the control systems for Giant Observation Wheels (GOW) but this will allow it to do it inhouse and build control systems for other types of projects than giant wheels.
Chief executive Mark Gustafson said: "We are delighted to have further strengthened our position as the go-to team for the design, engineering and delivery of Giant Observation Wheels.
"Crucially, there is an opportunity to offer our drive and control system capabilities to a multitude of projects, not just GOWs, and we look forward to building this aspect of our business, with work currently underway for the control system of the NY Wheel."
The team at the 500 sq m workshop and 150 sq m office in Enschede is currently working on a "high-tech" drive and control system for the US$500 million New York Wheel.
Shares added 3.37% to 23p a pop.