Visteon says it has completed the acquisition of Johnson Controls’ automotive electronics business for US$265m.
The deal creates one of the world’s three largest suppliers of vehicle cockpit electronics, following initial announcement of the plans on 13 January this year.
Go deeper with GlobalData
The combined global electronics enterprise has more than US$3bn in annual revenue, with a number two global position in driver information and what Visteon says is “above-average growth rates” for the cockpit electronics segment, supplying nine of the world’s ten largest vehicle manufacturers.
“This acquisition is a milestone in Visteon’s transformation, which we are confident will greatly benefit our customers, investors and new and existing employees around the world,” said Visteon CEO and president, Timothy Leuliette.
“As a cornerstone of our value creation plan, this transaction solidifies cockpit electronics as one of Visteon’s two high-growth core growth businesses, along with vehicle thermal management systems, in which we hold the number two position globally.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
