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Visteon to beef up automotive electronics unit

15 Jan 2014

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Visteon is paying $265 million in cash to acquire Johnson Controls' automotive electronics operations, which generated $1.3 billion in revenues in fiscal 2013. The transaction is expected to catapult Visteon to the ranks of Continental and Bosch in the field of automotive cockpit electronics.

Johnson's automotive electronics 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, generating combined sales of $3 billion annually. 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 Ford.

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

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