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Delphi Beefs Up Connected-Car Portfolio with Acquisitions
Delphi Automotive plc on Thursday announced several deals designed to bolster its electronics, active safety and connected vehicle capabilities.
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Delphi Automotive plc on Thursday announced several deals designed to bolster its electronics, active safety and connected vehicle capabilities.
The only one it disclosed financial information about is an agreement to purchase U.K.-based HellermannTyton Group plc for 1.07 billion ($1.7 billion). Delphi plans to complete the acquisition late in the fourth quarter.
Delphi says HellermannTyton's portfolio of automotive cable products offers key enablers for emerging connected car systems. The purchase also gives Delphi access to HellermannTyton's customers in the aerospace, defense, alternative energy and mass transit industries. Founded in the 1930s, HellermannTyton was purchased by a private-equity firm in 2006. The company went public in 2013.
Delphi also bought Pittsburgh-based Ottomatika Inc., a spinoff from Carnegie Mellon University, which specializes in software for self-driving vehicles. Earlier this year the two companies collaborated on an autonomous car that drove 3,500 miles from San Francisco to New York City.
In addition, Delphi made unspecified investments in two Silicon Valley firms: Quanergy Systems Inc. and Tula Technology Inc. Quanergy supplies 3D lidar sensors for use in active safety systems, distant imaging and surface modeling. Delphi says the two companies will work together to commercialize lidar products for advanced driver assistance systems and autonomous vehicles.
Tula develops software for cylinder deactivation systems. Delphi is partnering with the company on a new product that will allow the engine's cylinders to be turned on and off on a continuously variable basis, which the companies say can boost fuel efficiency by as much as 15%.
Finally, Delphi agreed to sell its reception-systems (automotive antennas and in-vehicle TV tuners) business to China's Northeast Industries Group Corp. The deal is expected to close in the third quarter.
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