Koito Manufacturing has completed the acquisition of US-based Lidar specialist Cepton. The acquisition, finalized on Jan. 7, transforms Cepton into a private, indirect subsidiary of Koito, with its headquarters remaining in San Jose, California. Following the acquisition, Cepton's shares were delisted from the Nasdaq, with each share of Cepton common stock being converted to $3.17 in cash, marking a significant milestone in the journey of both companies toward reshaping the landscape of automoti...

Lumileds has agreed to sell its Lamps and Accessories business to First Brands Group, an international automotive parts manufacturer, for $238 million. First Brands will continue to broaden its global services and establish its products and brands in the automotive accessories sector. The sale is expected to be completed in the second quarter of 2024. Lumileds will transfer its automotive lamp factories in mainland China, Germany and Poland with the Lamps and Accessories business to the ...

Top Indian automotive supplier Rane Group has decided to merge two of its listed companies – Rane Brake Lining and Rane Engine Valve — with its other listed company, Rane (Madras). The proposed reorganisation will bring all operating business subsidiaries under one single company, and it will create a larger company with a combined turnover of rupees 33.73 billion for the trailing 12 months period ended December 31, 2023 (January-December 2023) on a proforma basis, business daily the Hindu B...

Uno Minda is set to acquire the remaining stake in Uno Minda Europe for €1.3 million after receiving board approval, CNBC TV18 reported on September 12. The acquisition will make Uno Minda Europe a wholly-owned subsidiary of Uno Minda. The Indian supplier will buy a 3.81% stake held by George Hutter in Uno Minda Europe through SAM Global Pte Ltd, a wholly owned subsidiary of Uno Minda. Significance: Uno Minda Europe develops lighting systems and electronic control units (ECUs). The compa...

HELLA has completed the exit from the joint venture HBPO Beteiligungsgesellschaft, it said in a press release dated 12 December. Following approval from the authorities, 33.33% share in the joint venture has been successfully transferred to the previous coshareholder Plastic Omnium. The purchase price amounts to EUR290 million (USD305 million), with a dividend of about EUR8 million. Significance: The deal was first announced in July this year. Plastic Omnium acquired AMLS on 25 March 2022 to ...

Cognex Corporation, a machine vision company has acquired SAC Sirius Advanced Cybernetic, a lighting technology company. The acquisition expands Cognex’s footprint across industries that manufacture at high speed with minimal tolerance for safety-critical failures, such as automotive. Cognex plans to feature SAC’s Trevista products with its Vision Pro software offering. Cognex plans to feature SAC’s Trevista products with its Vision Pro software offering. Founded in 1996 in Karlsruhe, G...

Lumax Industries has announced that it acquired 100% stakes in Czech Republic-based Damberty Real, IIFL reported on 15 September. As a result, Lumax Industries Czech s.r.o. became the company's wholly owned subsidiary. Significance: The acquisition enables Lumax industries to provide/receive services relating to the design and development of new technologies for automotive lighting systems for the company's existing and new clients in Indian and international markets, as well as assistance in...

Hangzhou-based Inventronics has announced via press release on 15 June that it concluded an agreement to acquire ams OSRAM’s Digital Systems business in Europe and Asia.   Dr. Gernot Steinlesberger, Head of OSRAM Digital Systems Europe and Asia, said, “We look forward to joining the Inventronics family. Both companies have a deep market knowledge and customer understanding, and that combined with our strong European and Asian presence will enable us to continue to deliver excellent q...

Indian automaker Tata Motors’ subsidiary Tata Passenger Electric Mobility Ltd (TPEML) has signed a tripartite memorandum of understanding (MoU) with Ford India Pvt Ltd (FIPL) and the Government of Gujarat for acquiring the latter’s passenger vehicle manufacturing plant in Sanand, Gujarat, news publication Business Standard reported on 31 May 2022. It said that the acquisition of Ford’s manufacturing unit by Tata Motors would help the automaker expand capacity to make passenger cars as well...

Plastic Omnium has acquired Varroc’s automotive lighting business, Varroc Lighting Systems (VLS) for EUR600 million (USD635.43 million), according to a press release published by Plastic Omnium on 29 April. The transaction includes 100% ownership of VLS’ companies in Europe, Americas, and North Africa and research and development (R&D) center in Pune, India, press release added.   Laurent Favre, CEO of Plastic Omnium said, “With Varroc Lighting Systems, Plastic Omnium become...

Plastic Omnium has announced the acquisition of lighting specialist ams Osram’s Automotive Lighting Systems GmbH (AMLS) business unit for EUR65 million (USD71.39 million), according to a press release published by ams Osram on 25 March. ams Osram will continue to supply automotive light emitting diode (LED) and optical components to Plastic Omnium. However, the transaction does not include other ams Osram technologies and products for automotive OEM and the automotive aftermarket.   ...

The combined company from the merger between Faurecia and HELLA will be known as Forvia, and will be the seventh largest automotive supplier in the world, the company announced in a press release on 7 February. The new brand reflects both the companies’ evolving innovation and producing future ready sustainable solutions.     Patrick Koller, Faurecia CEO, said, “We are FORVIA! This new name reflects core elements of our Faurecia and HELLA brands, as well...

Faurecia announces the completion of lighting and electronics specialist HELLA’s acquisition after receiving all necessary regulatory approvals, it said in a press release on 31 January. Through the transaction, Faurecia acquired 79.5% of the shares in HELLA, including the 60% share package of the HELLA pool shareholders as well as around 19.5% as part of the public takeover offer ended on 11 November 2021.   Patrick Koller, CEO, Faurecia, said, "HELLA and FAURECIA complement each othe...

Flex completes its previously announced USD540 million all-cash acquisition of critical power solutions company Anord Mardix, the company announced in the press release on 1 December. “We are excited to complete this transaction and welcome the Anord Mardix team to Flex,” said Revathi Advaithi, CEO of Flex. “This transaction advances Flex’s shift toward higher margin lines of business and meaningfully strengthens our ability to offer leading data center power solutions for new and exi...

Faurecia will hold 79.5% of the shares in HELLA upon completion of its takeover, Faurecia said in a press release on 16 November. The deal translates into an investment of almost USD6.0 billion (EUR5.3 billion) that allows Faurecia to attain financial flexibility. Patrick Koller, CEO of Faurecia, said, “Faurecia welcomes the positive outcome of the voluntary takeover offer for HELLA. We have designed a sustainable organization and governance, which allows us to be e...

Spark Minda acquired 49% stake in the electronics joint venture (JV) with Stoneridge thereby controlling the entire automotive instrument cluster and sensors business, the company said in a statement on 3 November. The company is said to expand its technical know-how further through the transaction with Stoneridge Inc. “Our technical collaboration with Stoneridge continues — or rather we have expanded our technical scope. However, after the stake buy, there is a flexibility for us to go i...

Magna International Inc. today announced that the board of directors of Veoneer, Inc. has determined that the previously announced proposal by Qualcomm Incorporated to acquire Veoneer for USD37 per share is a superior proposal under the terms of the previously announced merger agreement between Magna and Veoneer, and that Magna has waived the four-day matching period to make a counterproposal. Accordingly, Veoneer has terminated its merger agreement with Magna and entered into a merger agreement...

Faurecia has announced that it has reached an agreement with the Family pool and with HELLA to acquire a 60% stake in HELLA. According to press release issued by Faurecia and HELLA on 14 August, the transaction will be done through a mix of EUR3.4 billion (USD4 billion) in cash and up to 13,571,428 newly issued Faurecia shares (based on a reference price of EUR42.063 per Faurecia share). The completion of the transaction does not require any approval by the shareholders of Faurecia, and it is ex...

Skyworks Solutions, an innovator of high-performance analogue semiconductors connecting people, places, and things, announced on 26 July that it had completed its acquisition of Silicon Laboratories' Infrastructure & Automotive business in an all-cash asset transaction valued at USD2.75 billion. “On behalf of the entire Skyworks organization, I want to welcome the Infrastructure & Automotive team,” said Liam K. Griffin, chairman, CEO, and president of Skyworks. “In addition...

Germany-based supplier of braking components and systems, Knorr Bremse, has announced that it has dropped its plans of acquiring a 60% stake in German automotive lighting systems manufacturer, HELLA, according to a report filed by business news agency Reuters on 7 July. Knorr Bremse said it was interested in buying a stake in HELLA GmbH on 29 June. In addition to Knorr Bremse, other suppliers such as Plastic Omnium and Faurecia had also reportedly expressed interest in acquiring HELLA. ...

German brake manufacturer Knorr-Bremse AG said it was interested in buying a 60% stake in the supplier of electronic and lighting systems, HELLA GmbH, Reuters reported on 29 June. The report mentioned that Knorr, which largely caters to the commercial vehicles and railway industries, said in a regulatory filing on Frankfurt stock exchange that consultations on buying 60% stake in HELLA were at an early stage and it was not certain that a transaction would follow. Quoting Germany’s Manage...

Minda Industries will, through its wholly owned unit, acquire a 51% stake in joint venture (JV) UzChasys, from its existing shareholder UzautoComponents LLC, Business Standard reported on 22 June. The cost of the acquisition is about INR581.3 million (USD7.8 million). Minda’s investment in UzChasys will result in a significant market presence in Uzbekistan. Significance: UzChasys is a JV of AMS and UzautoComponents, in which 30% is held by AMS and the remaining 70% is held by ...

Faurecia has announced the acquisition of DesignLED, in a company press release on 9 June. DesignLED is a Scotland-based company, offering advanced backlighting technologies. Financial details of the transaction were not disclosed. “DesignLED’s advanced technologies and team will enrich Faurecia Clarion Electronics’ display technologies ecosystem. Immersive experiences are fast becoming a defining factor in mobility, and through the acquisition of designLED we aim to strengthen Fau...

German lighting major OSRAM Licht AG has reported a 3.8% year-on-year (y/y) drop in revenues to EUR840 million (about USD1 billion) for the first quarter ended 31 December 2021, according to a company press release on 9 February. Adjusted EBITDA grew 42.1% y/y to EUR162 million and EBIDTA margin was 19.3% y/y, up from 13% in the same period last year. The company posted profit after taxes of EUR6 million, compared with EUR1 million in the first quarter of 2020. In terms of segment, reven...

German lighting supplier OSRAM has sold its plant near Plovdiv in Bulgaria to US-based electronics manufacturer Sanmina Corp., according to a report by SeeNews on 4 February. The plant located in the Bulgarian city of Plovdiv makes digital lighting components. The plant employs around 800 people who will continue to work under the management of the new owner. Financial terms of the deal were not disclosed. Significance: OSRAM opened this Bulgarian plant in 2017 with an investme...

Samvardhana Motherson Automotive Systems Group BV (SMRPBV) is acquiring a majority stake in Plast Met Plastik Metal San. İmalatveTic.A.Ş.(PM-Bursa) and Plast Met Kalıp San.veTic.A.Ş.(PM-Istanbul)—together known as Plast Met group (Turkey)—through its subsidiary Samvardhana Motherson Reflectec (SMR), according to a company press release on 18 January 2021. The company will acquire 75% stake in Turkish Plast Met Group. Founder of Plast Met Erol Senol will retain 25% stake in the Companies ...

VarrocCorp Holding B.V. (VCHBV), a wholly owned subsidiary of Varroc, has acquired the balance 30% stake in Romanian joint venture (JV) Varroc-Elba Electronics S.R.L held by the other JV partner, ELBA SA, according to a filing by Varroc with BSE on 9 December. The deal is valued at EUR1.05 million (USD1.2 million). Significance: Varroc Elba, incorporated in January 2019, is engaged in the business of manufacturing and sale of electronic lighting solutions for automotive OEMs and tier-1 suppli...

Lumax Auto Technologies has acquired the entire shareholding held by erstwhile joint venture (JV) partner in Lumax Gill Austem Auto Technologies Private Limited (LGAAT), a subsidiary of the company, according to a regulatory filing by the company in 16 October. The deal is valued at INR7.3 million. The JV agreement with Gill Austem LLC, USA, has been terminated and Lumax Auto has acquired the shares of the target company from the JV partner, in terms of the provisions of the JV agreement. Sig...

Austria sensor specialist ams has concluded as the controlling company a domination and profit and loss transfer (DPLTA) agreement with German supplier OSRAM Licht AG as the controlled company, the two companies announced in separate press release on 22 September 2020. "We are very pleased to conclude the DPLTA with OSRAM," said Alexander Everke, CEO of ams. "Implementing the DPLTA will enable the swift and successful integration of ams and OSRAM into a combined company that offers profitable...

Marelli has announced plans to permanently close its Michigan lighting plant. According to a Worker Adjustment and Retraining Notification (WARN) notice on 27 July on the website of Mighigan.gov. Marelli Automotive Lighting USA will close its Clarkston, Michigan factory, affecting 263 employees. The automotive supplier is not a part of a union, the notice said. Production will cease at the end of January 2021. Significance: Marelli said the automotive industry is facing a number of prolonged ...

Analog Devices (ADI) has signed an agreement to acquire Maxim Integrated Products in an all-stock transaction, the company said in a press release on 13 July. Under the agreement, Maxim stockholders will receive 0.630 of ADI stock for each Maxim share at the closing of the transaction. Upon closing, current ADI stockholders will own about 69% of the total entity, while Maxim shareholders will own about 31%. Analog Devices says the combined enterprise will be valued at over USD68 billion at th...

Austrian sensor specialist ams has announced the successful closing of Germany-based OSRAM Licht AG acquisition, ams said in a press release on 9 July 2020. “The takeover offer has been fully settled today and the offer price paid to the holders of the tendered shares,” according to a company statement. Subsequent to closure of the deal, ams holds 69% of all shares in OSRAM (excluding treasury shares) on the basis of the takeover offer and additional purchases equivalent to a transactio...

Austria-based sensor specialist ams has received unconditional regulatory approval on 6 July from the EU commission for the acquisition of Germany-based Osram Licht AG, ams said in a press release. “The EU regulatory approval constituted the last remaining condition precedent for closing the transaction which is now fulfilled,” the company said in a statement. ams now expects the payment of the offer price to the holders of the tendered shares and the closing of the takeover offer on 9 July ...

Minda Industries’ planned merger of four subsidiaries receives court approval, the company said in a regulatory filing on 2 June. The company has informed that the National Company Law Tribunal (NCLT), Special Bench, New Delhi, has made the pronouncement of the order on 1 June 2020, sanctioned the scheme of amalgamation of wholly owned subsidiary companies, namely M J Casting Limited, Minda Distribution and Services Limited, Minda Auto Components Limited, and Minda Rinder Private Limited into ...

ams has announced that it has completed a CHF1.75 billion (USD1.81 billion) share sale to partially fund the acquisition of Germany-based Osram Licht, according to a company press release on 31 March. ams shareholders exercised the subscription rights for 117.5 million new shares, corresponding to 62% of the 189.9 million shares offered. Delivery of the new shares against payment of the offer price is expected for 3 April. Significance: The Austrian sensor specialist submitted an all-cas...

ams has announced that, with respect to the acquisition of Germany-based Osram Licht, it expects the public offer to close in the second quarter of fiscal 2020. In a press release dated 19 March, the Austrian company has said it has increased its direct shareholding in OSRAM to 23.4%, funded from existing cash resources. Considering the coronavirus disease 2019 (COVID-19) pandemic, ams reiterated its financial expectations for the first quarter of 2020, with revenues of USD480–520 million a...

Austrian sensor specialist ams has announced the final results of its all-cash takeover offer for German supplier Osram Licht AG. According to a company press release on 2 January, ams has achieved a final acceptance level of 59.9% by the end of the additional acceptance period. The closing of the takeover offer remains subject to receipt of regulatory approvals and is expected to occur in the second quarter 2020. ams has informed that the company intends to invite its shareholders to an Extr...

Koito Manufacturing Co Ltd. has agreed to take full ownership of Indian joint venture (JV)—India Japan Lighting Private Limited (IJL)—according to a company press release on 23 December. Koito has decided to acquire all of the shares of IJL owned by its JV partner Lucas TVS Limited (L-TVS) for INR1.5 billion (USD20.8 million) and make IJL a wholly-owned subsidiary. Presently, Koito holds 70.1% stake in IJL, with the remaining 29.9% held by L-TVS Group. Koito Group also decided to increa...

Austrian sensor specialist ams has announced the start of the additional acceptance period of its all-cash takeover offer for German lighting supplier Osram Licht, according to ams press release on 11 December. ams has achieved an acceptance level of 59.3% during the main offer period, which expired on 5 December. The additional acceptance period is due to run from 11 December up to 24 December 2019, 24.00 CET. ams encourages Osram shareholders, who have not already done so during the main of...

Austrian sensor specialist ams’ takeover offer for Osram Licht AG has crossed minimum threshold limit of 55%, the two companies announced in separate press releases on 6 December. ams informed that further steps to implement the transaction are expected to start in the very near future. The transaction is expected to complete in the first half of 2020.  Subsequently, the necessary steps could then be taken to merge the two groups in the second half of 2020. "We are pleased to announce ...

Magna has agreed to acquire Wipac Czech s.r.o., a Czech Republic–based supplier of premium automotive lighting products, according to a company press release on 20 November. The transaction is expected to close by this month-end. Wipac Czech s.r.o. designs and develops automotive forward lighting, primarily for European exotic and luxury brands. The company has significant technical competencies and serves premium OEMs including Aston Martin, Bentley, Rolls Royce, McLaren, Lamborghini, Buga...

Stanley Electric has acquired shares in Pakistan-based automotive lights supplier Electropolymers (Private) Limited, the Japanese supplier announced on 7 November. The company informed that it received a portion of shares by means of a third-party allotment implemented by Electropolymers, bringing its shareholding ratio to 25%. In addition, Thai Stanley Electric Public Co., Ltd., an affiliate of the Stanley Group under the equity method of accounting, will hold 10% of all issued stocks, giving t...

Stanley Electric has established a new production base for automotive lights in the Philippines, according to a company press release last month. The company announced the establishment of a production subsidiary in the Philippines following a series of talks with Germany-based HELLA, one of its business partners. The company agreed to acquire all shares of Hella-Phil., Inc. Subsequent to the transaction, Hella-Phil., Inc. will change its name to Stanley Electric Philippines, Inc. Significanc...

Osram has announced that it has concluded a comprehensive business combination agreement (BCA) with Austrian sensor firm ams and recommends its shareholders accept the current takeover offer from ams, the two companies said in separate press releases on 12 November. “ams welcomes the positive recommendation in support of its all-cash takeover for 100% of the share capital of Osram at a price of EUR41 per share,” ams said in a statement. "After intensive negotiations, we have agreed on many d...

Austrian sensor specialist ams has announced the start of acceptance period of an all-cash takeover offer for 100% of the share capital of Osram Licht AG at EUR41 per share, ams said in a press release on 7 November. Following clearance of the offer document, Osram shareholders are now able to tender their shares into the offer until the acceptance period, which expires on 5 December 2019 at midnight (CET). The offer represents a premium of 42% to the undisturbed share price of EUR28.92 as ...

ADAS (advanced driver assistance systems) and AD (autonomous driving) are now some of the main reasons for the automotive industry to improve safety for drivers and road users. Technologies such as laser, digital projections, and LED matrix are gathering momentum in the industry for both exterior and interior lighting of the vehicle. With these technologies, OEMs and suppliers aim to provide advanced driving assistance functionality, ensuring optimum visibility even in deplorable weather conditi...

Austrian sensor specialist ams has launched a new takeover offer for German lighting major Osram Licht at EUR41 (USD45.8) per share with minimum acceptance threshold of 55%, the two companies announced in separate press releases on 18 October. Based on this new offer, Osram will be valued at around EUR4.6 billion (enterprise value). The new offer represents a premium of 42% to the undisturbed Osram share price of EUR28.92 as of 2 July 2019. “Over the past few days, we have had construc...

Minda Industries Ltd. (MIL) has entered into a definitive agreement with Germany-based automotive lighting design and engineering company, Delvis Gmbh, to acquire a 100% stake in the latter, according to a regulatory filing on 8 October 2019. The transaction is valued at EUR21 million (USD23 million), subject to adjustments, if any, at closing. The deal, subject to customary closing conditions and other regulatory approvals, is expected to be completed in the next two months. Minda will fund the...

Austrian sensor specialist ams has announced that it did not meet the minimum acceptance threshold of 62.5% required in conjunction with the all-cash takeover offer for Germany-based lighting supplier Osram Licht AG, according to a company press release on 4 October. Only 51.6% of Osram shareholders approved the ams offer by 1 October, which was the date of the expiry of the offer. ams, which is Osram’s largest shareholder, will not exceed the current shareholding of 19.99% before obtaining...

Austrian sensor specialist ams has increased its direct shareholding German lighting supplier Osram Licht AG to 19.99%, it announced in a press release on 1 October. This shareholding includes Osram shares unconditionally bought by ams but does not include the shares already tendered into ams’ all-cash takeover offer for 100% of the share capital of Osram at EUR41 per Osram share. “The level of 19.99% is ams’ targeted maximum direct shareholding in Osram which ams will not exceed for regul...

Austrian sensor specialist ams has increased the price of its takeover offer for 100% of the share capital of Germany-based lighting supplier Osram to EUR41 per share, ams announced in a press release on 27 September. ams declared the bid to be its “best and final” offer, which continues to expire on 1 October 2019. The increased price reflects a premium of 42% to undisturbed Osram share price (EUR28.92) and an increase of EUR2.50 per share to the previous offer of EUR38.50. The Austrian com...

A consortium comprising Bain Capital and Advent has indicated a willingness to prepare a new takeover bid for Osram Licht, the German lighting supplier said on 25 September. In the coming weeks, the consortium intends to conduct confirmatory due diligence before deciding on a binding offer. In its letter to the Managing Board of Osram, the consortium has indicated it may offer a “meaningful” premium over the current offer from ams AG of EUR38.50 (USD42.09) per share. In addition, the pote...

Osram’s executive board and the majority of its supervisory board have published their reasoned opinion on takeover offer from Austrian sensor company ams. According to an Osram press release on 16 September, the company board recommend in their reasoned opinion that Osram shareholders accept the offer, after careful examination and thorough consideration of all advantages and disadvantages arising from obligations under equity law. “The financial attractiveness of the offer was to be weight...

Calsonic Kansei and Magneti Marelli will officially change their respective legal company names to MARELLI from next month, the two companies said in a joint press release on 9 September.  While Calsonic Kansei Corporation will change its name to MARELLI Corporation, Magneti Marelli S.p.A will change its name to MARELLI Europe S.p.A. The two companies also plan to change the names of their major affiliate companies to MARELLI from next month. “This is an exciting step forward on our jo...

Austrian electronics company ams has announced the start of the acceptance period of its offer for all outstanding shares of OSRAM Licht through its wholly-owned subsidiary Opal BidCo GmbH, according to an ams press release on 3 September. The offer document was approved by the German Federal Financial Supervisory Authority BaFin (Bundesanstalt für Finanzdienstleistungsaufsicht). OSRAM shareholders can tender their shares into the offer at EUR38.50 until the acceptance period of the offer ex...

Austrian electronics company ams will formally launch a takeover offer for OSRAM Licht at EUR38.5 per OSRAM share following waiver of standstill agreement by the latter, the two companies announced in separate press releases on 21 August. OSRAM said that it has waived an agreement that so far has prevented ams from making a bid to rival that of private equity investors Bain Capital and Carlyle. The ams offer period is expected to commence prior to 5 September 2019 when the offer from Bain Capita...

OSRAM and ams have held discussions on a business combination agreement and on other topics after the Austrian sensor specialist submitted a proposal to acquire the German lighting company on 11 August, the two companies confirmed in separate press releases on 14 August. The business combination agreement is a key element of ams’ takeover proposal. The two companies will continue to have discussions to carefully assess the details of the business combination agreement. Based on the recent d...

Austrian electronics company ams has submitted an all-cash offer to acquire OSRAM in a deal that values the Germany-based lighting supplier at EUR3.7 billion (USD4.1 billion), the company said in a press release on 11 August. ams is offering to pay EUR38.50 per share to acquire 100% of the share capital of OSRAM. According to the company, its offer price of EUR38.50 per share reflects a premium of 33% to OSRAM’s share price of EUR28.92 on 2 July 2019, the last trading day prior to the publi...

OSRAM has received a binding offer from private equity (PE) firms Bain Capital and Carlyle Group to acquire the company at EUR35 per share, the German lighting supplier said in a press release on 3 July. The takeover bid puts an equity value on OSRAM of EUR3.4 billion (USD3.8 billion). The company’s Supervisory Board will meet today (4 July) to review the offer. OSRAM’s share rose by 11.5% close to EUR32.25 on Wednesday (3 July). Significance: Earlier in February this year, OSRAM confirme...

OSRAM has completed the acquisition of Ring Automotive after receiving approval from the relevant regulatory authorities, OSRAM said in a press release on 2 May. “The partnership between the companies has officially started on 1 May,” the company said. Significance: OSRAM said that the acquisition of the British aftermarket specialist Ring Automotive will allow it to expand its product range in the automotive sector to include more electronics and accessories. "In addition to ex...

The European Commission (EC) has approved the acquisition of Magneti Marelli by the global investment firm KKR, the Commission said in a press release. The Commission examined the acquisition under the simplified merger review procedure and concluded that the proposed transaction would raise “no competition concern as the parties have a limited position in the markets where activities overlap.” Significance: In October 2018, Fiat Chrysler Automobile (FCA) reached a definitive agreeme...

Osram has reached a definitive agreement to divest its North American business unit, Sylvania Lighting Solutions (SLS), to WESCO International, the two companies said in separate press releases on 16 January. As per the terms of the agreement, WESCO will acquire SLS's business operations in the United States and Canada. SLS's current CEO Todd Myers will continue to lead the organization post completion of the transaction, which is expected to close in March 2019. Osram said it will receive in th...

Novares Venture Capital Fund, the investment arm of the France-based automotive supplier Novares, has completed the previously-announced acquisition of 20% stake in the Switzerland-based APAG Holding, Novares said in a press release on 19 November. The strategic investment, first announced in September this year, was done by Novares through issue of new shares. The transaction was closed on 26 October after receiving all required clearances from the relevant authorities.   The strategic ...

Gallium Nitride (GaN) is becoming a promising semiconductor technology for high performance microwave, radio frequency and millimeter wave devices. GaN devices enable operation at much higher voltages, frequencies, and temperatures over conventional semiconductor materials such as silicon.   Several developments in GaN are happening within the automotive industry. In April 2018, Toyoda Gosei developed a high-current GaN power semiconductor that can be used in power control units (PC...

France-based automotive plastic parts supplier Novares, through its investment arm Novares Venture Capital, has acquired a 20% stake in APAG Holding AG, according to a company press release on 11 September. The strategic investment is expected to help the French supplier to develop innovative solutions with integrated lighting and mechatronics devices to improve the car user experience. Novares invested in APAG through an issue of new shares. “We are excited about the opportunity to work to...

With the dawn of self-driving cars, the automotive lighting technology is set to undergo a significant change, both in terms of complexity and functionality. Consequently, suppliers are now faced with the challenge to develop intelligent exterior and interior lighting solutions, which will play a key role in autonomous driving – for luxury, infotainment, and safety purposes. Autonomous driving is expected to create a significant demand for intelligent lighting solutions as advanced dri...

Minda Industries Limited (MIL), the flagship company of India-based UNO Minda Group, will acquire Germany-based iSYS RTS GmbH, according to a regulatory filing by UNO Minda on Monday (16 July). The acquisition, which is subject to customary closing conditions and regulatory approvals, is expected to be completed by the second quarter of fiscal year2018/19. Subsequent to closure of the acquisition, iSYS RTS will become a subsidiary of Minda Industries and operate as an independent unit led b...

Magna International has signed a deal to acquire Italy-based OLSA S.p.A., a manufacturer of automotive lighting products, the company announced in a press release on 28 June. According to Magna, the transaction value, on a cash- and debt-free basis, is approximately EUR230 million (about USD267 million). The deal is expected to close before the end of the year after regulatory approval and other standard closing conditions. Magna said the acquisition will help it become a global supplier of ligh...

India-based Varroc Group has signed a binding agreement to acquire Turkish lighting equipment supplier Sa-Ba Industrial Products Inc. financial news website Money Control reported on 19 June. "It's a EUR42 million (USD48.6 million) acquisition. Good part about this acquisition is that our OEMs also want us to be in Turkey. There will be further investment in Turkey also." Tarang Jain, managing director, Varroc Group told Money Control. He added, “The acquisition formalities are expected t...

With the acquisition of Austria-based ZKW, which specializes in vehicle front lighting systems and related electronics, South Korea-based electronics giant LG has now gained a strong position in the competitive automotive lighting industry, which is witnessing a significant technological change with the emergence of electric and autonomous driving vehicles. According to IHS Markit, top 10 headlamp suppliers, which includes ZKW, accounted for more than 80 per cent of market share (in terms of USD...

LG Electronics’ board of directors have approved the acquisition of Austria-based automotive lighting specialist ZKW Group in a deal worth more than EUR1.1 billion (USD1.3 billion), the two companies announced in separate press releases yesterday (26 April). According to the deal agreement, LG Electronics will acquire a 70% stake in ZKW, while its parent LG Corp will acquire the remaining 30%. After the acquisition, ZKW will continue to be managed by its current team, led by CEO Oliver Schuber...

News The key news and events shaping the automotive supply base in the last month E-Mobility How are tranmission manufacturers and the wider automotive industry preparing and positioning for impending rise in hybrid demand? Thermal Modest projected adoption by global OEMs is expected to limit the use of CO2 (R744) refrigerants toniche variants or options in the near term. Who-Supplies-Whom Details of suppliers to the new Buick Enclave. Includes a look at the C1XX platform an...

LyondellBasell has entered a definitive agreement to acquire A. Schulman, a US-based supplier of plastic compounds, for a total consideration of USD2.25 billion, the Netherlands-based chemical company said in a press release on 15 February. Under the terms of the agreement, LyondellBasell will buy 100% of A. Schulman stock for USD42 per share in cash and one contingent value right per share and assume its outstanding debt and certain other obligations. The proposed acquisition has been approv...

Samvardhana Motherson International Limited (SAMIL), the principal holding company of the leading Indian automotive supplier Samvardhana Motherson Group (SMG), has acquired MS Global India (MSGI) from South Korea-based MS Group, reports Autocar Professional. MSGI produces sheet metal and frames for commercial vehicles. The company operates a production facility in India, located in Chennai, Tami Nadu. The two companies have not disclosed the financial details of the deal. Commenting on the ac...

Automotive seating and electrical systems supplier Lear has inked a definitive agreement to acquire Israel-based EXO Technologies, a developer of GPS technology for autonomous and connected vehicle applications, the company announced in a press release yesterday (11 December). The company did not disclose financial details of the transaction. Significance: EXO Technologies, with operations in San Mateo, California; and Tel Aviv, Israel, develops technologies for high accuracy positioning of v...

Acquirer Acquired Business Sector Comment ArgoAI Princeton Lightwave Lidar ArgoAI has acquired Princeton Lightwave, a company specializing in Lidar solutions, to accelerate its autonomous vehicle development program. The acquired company, founded in 2003, as a spin-off from Sarnoff Corporation, has expertise in development and commercialization of Lidar, a key sensing technology used in self-driving cars. Chassix  Benteler Automotive...

Acquirer Acquired Business Sector Comment Autoliv  Fotonic i Norden, Lidar technology Autoliv has reached an agreement to acquire select assets of Fotonic i Norden, a Sweden-based company specializing in Lidar and Time of Flight camera. The acquisition will result in transfer of certain intellectual property rights, development and prototyping assets and development resources from Fotonic i Norden to Autoliv. In addition, about 35 engineering expert...

Germany-based engineering firm Siemens has divested its remaining 17% stake in Osram Licht for EUR1.2 billion (USD1.4 billion) to institutional investors, Reuters reported on 4 October. Siemens will use net proceeds from the sale for general corporate purposes. Siemens would retain a small number of Osram shares to service a Siemens bond plus warrant issue due in 2019, according to the report. Significance: In early 2016, the German lighting group Osram faced criticism from the company’s bi...

TT Electronics has completed the divestment of its Transportation, Sensing and Control (TS&C) division to AVX Corporation for GBP118.8 million (USD159 million), according to a press release. The sale includes TS&C’s manufacturing subsidiaries in Austria, China, Germany, India, Mexico, Romania, South Korea, the United Kingdom and the United States, including research and development, manufacturing and sales office locations. Significance: TT Electronics had announced its plans to sel...

Acquirer Acquired Business Sector Comment Adient  Futuris Group Seating Adient has signed a definitive agreement to acquire Futuris Group for approximately USD360 million. The company expects to complete the transaction, subject to various customary closing conditions, by the end of the current quarter (by 30 September).The US-headquartered Futuris Group, currently owned by affiliates of Clearlake Capital Group, is a major supplier of automotive sea...

Faurecia is not planning to make an offer for Magneti Marelli, a subsidiary of the Fiat Chrysler Automobile (FCA) group, reports La Tribune citing the company’s CEO Patrick Koller.  According to Koller, Faurecia had focused on this venture, valued at around EUR5 billion (USD5.9 billion), but has now decided that no offer will be made. Nevertheless, Kolller was quoted as saying earlier this week in the French press that Faurecia is planning to add a fourth division of activity, which co...

South Korea’s LG Electronics has entered the main bidding round to acquire Austrian automotive lighting solutions supplier ZKW Group, The Korea Economic Daily reported on Tuesday. ZKW Group is expected to decide on a preferred bidder in September. The deal could potentially fetch USD1.2 billion, according to the report. Significance: The Korean company participated in the tender offer to acquire ZKW Group in an effort to strengthen and diversify its automotive electronics business. LG Elect...

Acquirer Acquired Business Sector Comment AVX Corporation  Transportation, Sensing and Control division (TS&C) of TT Electronics Sensors AVX Corporation has signed definitive agreement to acquire the Transportation, Sensing and Control division (TS&C) of TT Electronics for GBP118.8 million (USD154.3 million) in cash. The acquired business designs, develops and supplies sensors for temperature, positions and speed, including exhaust or emissi...

Osram has reported 17.9% year-over-year (y/y) decline in net income to EUR64 million (USD73 million) for the third quarter ended 30 June 2017, the German lighting supplier said in a press release yesterday (27 July). Net income for the period declined despite 3.2% y/y growth in revenue to EUR1.05 billion. Higher revenue failed to lift growth in EBITDA and EBITA, which dropped by 5% y/y and 11.7% y/y to EUR147 million and EUR97 million, respectively. The company’s income before taxes also dropp...

Acquirer Acquired Business Sector Comment Bosch Albertini Cesare S.p.A Aluminium Die-Casting Bosch has announced plans to acquire Italy-based Albertini Cesare S.p.A., a company specializing in aluminum die-casting components for the automotive industry. The acquisition is subject to approval by the antitrust authorities. “We are confident that local production will pick up speed agai...

Acquirer Acquired Business Sector Comment Flex-N-Gate Plastic Omnium Seven European Facilities Plastic Omnium has finalized the sale of seven European sites, four in France, one in Spain, and two in Germany, to US-Based Flex-N-Gate Group. Gett Juno Israel-based ride-sharing company Gett has confirmed the acquisition of US...

South Korean conglomerate LS Group is reportedly in talks to sell its automotive electronic parts making unit LS Automotive to US-based private equity firm KKR & Co. as a part of its efforts to improve its financial health, reports Korea Herald. LS Group intends to sell 100% stake in LS Automotive to KKR for approximately KRW1 trillion (USD884 million) on an enterprise value basis. Significance: LS Automotive, owned by the group’s machinery making unit LS Mtron Ltd, is an automotive ele...

Germany-based lighting supplier Osram is eyeing acquisitions worth up to EUR500 million (USD530 million), reports Reuters citing the company’s chief financial officer (CFO). The company, however, did not disclose any specific plans for a deal yet. “Osram wants to strengthen in the areas of electronics and software within its automotive lighting unit and is looking for acquisition targets or partners. Acquisitions for its Opto semiconductors unit would also be attractive if they opened up acc...

NEWS The key news and events shaping the automotive supply base in the last month.    SOFTWARE On March 13, 2017 Intel announced its acquisition of Mobileye, perhaps the most significant M&A event to date in the autonomous driving sector with significant impact over the next decade and beyond. POWERTRAIN Development of high fuel injection pressure helped in bringing improvement in diesel engine characteristics by reducing emissions and improving efficiency. CHASSI...

Acquirer Acquired Business Sector Comment 3M Scott Safety Safety systems Johnson Controls, Inc. (JCI) has signed an agreement to sell its safety equipment business, Scott Safety, to 3M for around USD2 billion, the two companies said in separate press releases yesterday (16 March). The transaction is expected to close in the second quarter of 2017, subject to approval from the relevant ...

South Korean electronics giant Samsung Electronics is planning to acquire Magneti Marelli by the end of this year, reports news website Business Korea citing industry sources. According to an official claimed to be close to Samsung, a price acceptable to both the parties has been reached. “After long negotiations, Samsung and FCA have reached a tentative agreement on the price. Samsung has considered Magneti Marelli the best partner to create a synergy in the automotive electronics business al...

Acquirer Acquired Business Sector Comment CIE Automotive Newcor Inc Machining CIE Automotive is set to acquire Newcor Inc, which is into high precision machine products for automotive sector. Newcor plans to continue operating from its three existing manufacturing facilities in Michigan, the United States. Although, the company did not disclose the value of the deal, a report by Reuter...

Acquirer Acquired Business Sector Comment Alstom EasyMile Autonomous Vehicle Software Alstom has acquired a minority stake in start-up company EasyMile by investing EUR14 million (USD15 million). Separately, the two companies have inked a commercial partnership agreement aiming at joining their forces to provide integrated solutions for urban transportation. Daiml...

Ichikoh has announced that the tender offer by Valeo for purchase of its common stock, which was announced in November last year, was closed on 12 January, the Japanese supplier said in a release on 13 January. Valeo will hold a 55.08% stake in Ichikoh upon settlement of the transaction slated for 20 January 2017. Significance: In the third week of November, Valeo initiated a takeover bid to acquire Ichikoh, in which the French supplier has had an equity stake since 2000. Valeo was required t...

Philips inked an agreement to divest its majority stake of 80.1% in Lumileds, a supplier of LED components and automotive lighting, to certain funds managed by affiliates of Apollo Global Management, according to a press release by Lumileds last month. Philips will retain the remaining 19.9% interest in Lumileds. The transaction is valued at USD2 billion, which also includes debt and debt-like items. Philips expects to receive cash proceeds, before tax and transaction-related costs, of approxima...

Acquirer Acquired Business Sector Comment Analog Devices Inc. (ADI) Solid-state laser beam steering technology Autonomous driving Analog Devices Inc. (ADI) has acquired a solid-state laser beam steering technology from Vescent Photonics, the company said in a press release. According to ADI, Vescent’s technology enables more robust integrated Lidar systems that overcome cost, size an...

Valeo has received approval from Japan’s Fair Trade Commissions (FTC) to take control of Ichikoh Industries in case the French supplier succeeds in its takeover bid, which it launched last month, the company said in a press release on 12 December. Approval from the Japanese competitive authority was one of the conditions of Valeo’s bid for the Japanese supplier. Significance: In the third week of November, Valeo initiated a takeover bid to acquire Ichikoh, in which the French supplier has...

Panasonic is in advanced stage of talks to acquire Austrian automotive electronics and lighting supplier ZKW, Reuters reported on 4 December, citing a person familiar with the matter. Further, Nikkei reported today (5 December) that the deal could worth USD1 billion and the two companies could reach a basic agreement as early as this month.     The privately owned ZKW supplies LED headlights and lighting modules to automakers and counts BMW, GM and Volkswagen Group as its major...

French auto parts maker Valeo announced a public tender offer to raise its stake in Japanese supplier Ichikoh Industries, according to a company press release yesterday (22 November). Valeo seeks to raise its stake in Ichikoh to between 50.09% and 55.08%. The offer will be open between 24 November 2016 and 12 January 2017. Valeo will pay JPY408 per share, valuing Ichikoh Industries at about JPY39.3 billion (USD353 million). Significance: Valeo has held a minority stake of 31.6% in Ichikoh for...

Continental tried to buy Seimens’ stake in lighting supplier Osram in summer this year, Reuters reported citing German business monthly Manager Magazine as source. According to the report, Continental offered EUR50 per share for the 17% stake that Siemens owns in Osram. However, the former parent of Osram turned down Continental’s offer, the report added. Significance: In 2013, Siemens completed spin-off of its former lighting business Osram into a public, independent company, Osram Litch...