Bosch plans to buy full control of its home-appliance joint venture from partner Siemens for EUR3bn in a move being seen as a strategic play as big automotive suppliers vie to exploit competitive strengths in the wake of ZF’s deal to acquire TRW.
Bosch has also recently taken full control of a car steering-systems JV from ZF. Bloomberg reported that the latest deal reinforces the company’s strategy to “expand in the so-called Internet of things”, or products with Web links enabling remote control and communications.
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The Siemens deal also allows Bosch to reduce its dependence on the auto industry.
The Bloomberg report noted that Bosch’s takeover of ZF Lenksysteme gives it access to electronic-steering systems that will be critical to the development of driverless cars.
See also: GERMANY: Bosch taking over EPS JV with ZF
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