Visteon snatches Johnson Controls' automotive electronics business

January 13, 2014 // By Christoph Hammerschmidt
Automotive tier one Visteon Corp. has announced that it will take over the automotive electronics activities of competitor Johnson Controls. The deal is worth $265 million - and boosts Visteon into the top league of automotive cockpit electronics, at eye-level with companies such as Continental and Bosch.

Johnson's activities to be taken over generated revenues of $1.3; the combined sales in the respective markets are expected to amount to some $ 3 billion. These activities focus on technologies and products around driver information systems, vehicle connectivity, body electronics and infotainment. With the additional R&D, production and marketing capacities, Visteon expects to benefit from economies of scale and operational synergies. Visteon, a spin-off from Ford Motor Company, claims to be supplier to nine out of the world's largest vehicle OEMs, including BMW, Honda, Renault, PSA Peugeot Citroen and, of course, Ford.

The transaction will involve 4800 employees, including some 1000 engineers and designers at seven R&D centres in Europe, North America and Asia.

 

For more information visit www.visteon.com