Bosch to sell off three smart building products businesses
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Bosch is looking for buyers for its three smart building products businesses with over a third of its staff.
The restructuring of its Building Technologies division will see Bosch focus on its regional integrator business, with solutions and services for building security, energy efficiency, and building automation.
This will lead to the sell off of most of the Building Technologies division’s product business. This includes the Video, Access and Intrusion, and Communication business units with over 4300 staff in 90 locations worldwide.
This comes just months after the acquisition of smart AI camera developer Paladin Technologies in Vancouver which has over 1,500 staff across 35 offices. Paladin was to be added to Bosch’s 2015 US acquisition of Climatec, which is part of Bosch Building Technologies and offers energy efficiency, building automation, security, and life safety solutions for the US market.
Bosch is now looking for a buyer who will take on all three business units together with their associates and locations. The product business with fire-alarm systems is not to be sold but will be merged with the integrator business and continued.
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“We want to become one of the global leaders for systems integration in building technology and to seize the favorable opportunities for growth in this market. To achieve this, we need to consolidate. This is why we will in the future be focusing on systems integration as our core business,”
said Christian Fischer. As deputy chairman of the Bosch board of management, he is responsible for the company’s Energy and Building Technology and Consumer Goods business sectors.
“We are confident we will be able to find a buyer who will take over all three business units, and who will further strengthen the business and give it a secure future.”
“The product business is excellently positioned for a promising future under a new owner: innovative products, highly skilled associates, and a market environment with attractive opportunities for growth,” said Thomas Quante, the president of Bosch Building Technologies.
The restructure will lead to a Building Technologies division with 7,600 associates, and operate at 40 locations in 8 countries. This aims to be a brand-independent systems integrator with a wide portfolio of energy and building solutions, the division intends to benefit in the future from digitalization and a growing customer demand for integrated, intelligent building security, energy efficiency, and building automation.
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