HELLA takes half of InnoSenT.
18 September 2012 a[euro]" German HELLA KGaA Hueck & Company, a manufacturer of lighting and electronic components and systems for automotive applications, said that it nabbed a 50% stake in domestic radar sensors specialist InnoSenT GmbH, in a move to boost its presence in the automotive radar sensors segment.
No financial details were provided.
InnoSenT's product portfolio includes components for front-and-rear automotive radar systems and industrial applications for traffic monitoring. Through HELLA, the company will be able to gain a firm position in driver assistance technologies for the automotive sector, InnoSenT's founders Wolfgang Weidmann and Robert Mock, said.
Initially, the two firms will engage primarily in the development and production of sensors for HELLA's global clients. In addition to the automotive segment, they will also zero in on further development of industrial applications, the buyer said. HELLA's comparatively affordable 24-GHz radar technology is used in driver-assistance technologies, which improve traffic safety a[euro]" an issue which is becoming increasingly important, especially in emerging countries, Christian Amsel, a member of the buyer's Electronics Division's executive board, noted. HELLA will leverage InnoSenT's know-how to meet requirements alsoA for higher frequency ranges, including 61, 77 and 122 GHz, Amsel said.
The accord on the deal provides for autonomy of the firms, which is seen as conducive to innovation.
InnoSenT is headquartered in Donnersdorf, in the German state of Bavaria. The company has a workforce of some 120.Based in Lippstadt, Germany, HELLA has 70 locations in over 30 countries, operated by over 27,000 employees.Country: GermanySector: ElectronicsTarget: InnoSenT GmbHBuyer: HELLA KGaA Hueck & CompanyType: Corporate acquisitionStatus: Closed
.END.PUB430>PDSeptember 18, 2012>JNMANEWS.PRICEDATENOT APPLICABLE.DAY
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|Publication:||M & A Navigator|
|Date:||Sep 18, 2012|
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