Aptiv extends connectivity excellence with Winchester Interconnect acquisition
Aptiv, formerly part of Delphi Automotive, and now a major name in the future of automobiles, has acquired Winchester Interconnect for $650 million. The company says that the deal is subject to regulatory approval “and other customary closing conditions” and they expect it to be completed by the end of the year.
Aptiv’s share price has risen by 12% so far this year
SOURCE: Yahoo Finance
Winchester provides “custom engineered interconnect solutions for harsh environment applications”. In other words, it makes a range of connectors, cables, and other devices that ensure their users can remain connected to the internet despite difficult conditions. What kind of difficult conditions? Oh, the kind you might experience in, say, an aeroplane or an automated factory. The appeal for Aptiv, which is racing to create a world in which self-driving, connected cars, rule the roads, should be obvious.
Aptiv’s president and CEO, Kevin Clark, made the following comment: "Winchester further establishes Aptiv as a market leader in connectivity solutions and is a strategic fit to our Signal & Power Solutions segment. By adding to our over $1 billion in non-automotive revenues today, this transaction further strengthens our adjacent market platform and leverages our harsh environment expertise in engineered components."
As Clark explains above, the acquisition will give Aptiv the additional benefit of looking beyond the automotive industry for business. Winchester will remain an independent business within Aptiv’s Signal & Power Solutions segment.
Dominion holds Aptiv in its Global Trends Managed Fund.
If you would you like to receive the Newsfeeds daily, please click here to sign up now!Help us make this Newsfeed better by rating this article. 1 star = Poor and 5 stars = Excellent
- Click here to print this story: Print
The views expressed in this article are those of the author at the date of publication and not necessarily those of Dominion Fund Management Limited. The content of this article is not intended as investment advice and will not be updated after publication. Images, video, quotations from literature and any such material which may be subject to copyright is reproduced in whole or in part in this article on the basis of Fair use as applied to news reporting and journalistic comment on events.