Valeo has announced the acquisition of the German company peiker, a major supplier of on-board telematics and mobile connectivity solutions. The acquisition will enable Valeo to widen its range of connectivity-related products.
A pioneer in the field of intuitive driving, Valeo is developing an extensive range of technology systems using ultrasonic sensors, radars, cameras, laser scanners, head-up displays and software to make the car of the future more energy efficient, safer and more intuitive. With this acquisition, Valeo will strengthen its leadership in the field of autonomous, connected vehicles.
The acquisition of peiker, which will report sales of around €310 million in 2015, will have a positive impact on Valeo’s results starting in 2016. The transaction is subject to the approval of the relevant anti-trust authorities.
Commenting on the acquisition, Jacques Aschenbroich, Valeo’s Chief Executive Officer, said: “We are delighted to welcome the peiker teams to Valeo. Our exchanges with peiker’s experts, under the technological cooperation agreement we signed in early 2015, have been extremely fruitful. We highly value the technology culture that Andreas Peiker and his family have built over the decades. peiker’s portfolio of technologies, products and services is perfectly aligned with our vision of driving for the autonomous, connected and intuitive car of the future. The acquisition also reinforces Valeo’s presence in Germany by integrating into our company 700 local employees, including 150 highly skilled engineers.”
Valeo is listed on the Paris stock exchange and is a member of the CAC 40 index.
For more information about the Valeo Group and its activities, please visit our website, www.valeo.com
peiker is a leading supplier of components and systems in the area of communications technology. Headquartered in Friedrichsdorf, Germany, peiker has subsidiaries in France, USA, China, and Mexico. Founded in 1946, peiker supplies connectivity modules that are suitable for use in vehicles and enable fast and reliable data transmission on the road. Packaged together as the “connected car”, these modules open the door to the Internet, navigation tools and manufacturer-specific assisted services as well as emergency call (eCall) features. In the 2015 fiscal year, the peiker group of companies, which employs some 1,000people worldwide, will report sales of approximately €310 million.
For more information, please visit www.peiker.com