Valeo acquires telematics know-how through takeover
In the age of the connected car, telematics are a key technology for automotive electronics suppliers. Carmakers increasingly demand high-speed connectivity solutions that are at the same time hardened against cyber attacks. Mastering the technologies associated with telematics enables vendors to offer not only connecting the infotainment systems of the vehicles to the Internet but also offering innovative vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2X) solutions which expectedly will make use of 4G (LTE) and 5G mobile internet services.
Valeo and Peiker already maintained a technological cooperation signed in early 2015. “Peiker’s portfolio of technologies, products and services is perfectly aligned with our vision of intuitive driving, and the role that it will play in the autonomous, connected and intuitive car of the future,” said Valeo CEO Jacques Aschenbroich. The acquisition will also reinforce Valeo’s position in the German market, which is characterised, by a dominating position of suppliers Bosch and Continental.
The acquisition of privately-owned Peiker, which will post sales of around € 310 million in 2015, employs 1,000 people and has subsidiaries in the US, Mexico, France, and China, will be accretive in 2016 and will be submitted to the competition authorities concerned.
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