Hella acquires stake in Innosent to expand radar sensor business
With more than 13 years of experience in the development and series production of modern radar technology, Innosent is a market leader in both the automotive sector and industrial applications. The scope of application for its products ranges from front and rear automotive applications. In addition, sensors are used in traffic monitoring applications. The cooperation will initially be focused on the development and production of radar sensors for applications in Hella’s global network, the company said.
Hella integrates the 24 GHz radar sensor into various driving assistance systems, such as the lane change assistant. Christian Amsel, member of the executive board for the Electronics division, stresses the importance of radar sensors in the automotive industry: "The ever-increasing number of vehicles demands new means of monitoring traffic areas. Radar-based driving assistance systems such as the lane change and blind spot assistants help to improve road traffic safety. In emerging markets, too, the issue of safety is becoming increasingly important. The 24 GHz radar technology used by Hella is much cheaper than camera systems or 77 GHz radar systems, for example. As such, this system can also be used in the medium and low-range vehicle segments." In addition, Amsel said that the intensification of the business relationship will also help generate further growth areas, which in future will also allow the companies to supply the market for driving assistance systems with advanced technology in higher frequency ranges such as 61, 77 and 122 GHz – a field in which Innosent already has rich expertise
In addition to improving their position in the automotive sector, both companies are also pushing the further development of industrial applications: "Hella’s contribution will allow Innosent to establish a secure foothold in the automotive sector. New technologies and applications can now be brought to market much more quickly. Furthermore, we see synergy effects between automotive technology and industrial applications not as chance, but as a core growth philosophy for the still relatively new radar sensor market," said Innosent co-founder Wolfgang Weidmann.
Hella has taken a share of 50 percent of Innosent. The move however is subject to approval by the antitrust authorities.
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