The Ningbo Joyson Electronic Corp., Ningbo (China) and its subsidiary Preh Holding GmbH, Bad Neustadt a. d. Saale are acquiring 50% stake each of the TechniSat Digital’s Automotive division according to a company press release. The parties signed a contract on 29 January in this respect.
Post acquisition, TechniSat Automotive will become a part of the Automotive Electronics division of the Joyson Group, together with Preh GmbH as Preh TechniSat Car Connect GmbH. The Joyson Group will take over about 1,200 employees of TechniSat Automotive, apart from development locations in Dresden, San Carlos in California (United States) and Shanghai (China), as well as the production sites in Dippach/Thuringia and Oborniki (Poland) and an operative location in Daun (Germany). TechniSat Digital GmbH, Daun will focus on its Consumer Electronics division. The takeover is subject to approval by the relevant authorities.
“The takeover of TechniSat Automotive moves our already highly successful Automotive Electronics activities into a new dimension. The competences of Preh and TechniSat Automotive complement each other ideally and open up new mutual business potential. We will integrate the renowned Preh car HMI concepts with TechniSat Automotive’s successful telematics and infotainment in innovative overall solutions… [this] brings us a decisive step closer to the Joyson vision of a ‘Connected Car’,” said Jeff Wang, founder and majority shareholder of Joyson.
Significance: The acquisition of TechniSat Digital’s Automotive division is a key step in the company’s strategy to strengthen and expand the Preh Group. The combination of Preh and TechniSat Automotive will result in a sales volume of over EUR1 billion, with major focus on car connectivity and human machine interface (HMI) systems. TechniSat Automotive develops and produces car infotainment, navigation, vehicle networking and telematics products. The company has a key customer in the Volkswagen Group.
