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JCI to Sell HomeLink Unit to Gentex
Johnson Controls Inc. is selling its HomeLink auto electronics business to Zeeland, Mich.-based Gentex Corp. for $700 million.
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Johnson Controls Inc. is selling its HomeLink auto electronics business to Zeeland, Mich.-based Gentex Corp. for $700 million.
HomeLink is a built-in remote control that enables drivers to activate garage door openers and home door locks, lighting and security systems. More than 50 million vehicle use the technology.
Gentex, a major supplier of auto-dimming rearview mirrors and camera-based driver assistance systems, has been incorporating HomeLink into its mirrors for years.
JC has been trying to sell its electronics operation since March. HomeLink generated about half the unit's $1.4 billion in revenue last year.
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