Home Comfort business will nearly double
Bosch chairman Stefan Hartung: “Biggest transaction in Bosch history and important milestone in the implementation of our corporate strategy for 2030.”
Bosch deputy chairman Christian Fischer: “Acquired entities will strengthen Home Comfort in an extremely attractive segment, and will become part of Bosch core business.”
Expansion of presence in the U.S. and Asia.
Innovative, energy-efficient solutions for the move to alternative energy and for helping to mitigate global warming.
Bosch Home Comfort Group sales revenue to increase from roughly 5 billion euros to 9 billion euros.
Integrated unit will then have workforce of more than 26,000 and complementary portfolio at the interface between heating and cooling.
Bosch, the supplier of technology and services, is continuing its growth course with a strategic acquisition. For its Energy and Building Technology business sector, the Bosch Group plans to take over the global HVAC solutions business for residential and light commercial buildings from Johnson Controls. As part of this transaction, Bosch also intends to acquire 100 percent of the Johnson Controls-Hitachi Air Conditioning (JCH) joint venture, including Hitachi’s 40 percent stake. The Bosch shareholders and supervisory board have approved the transaction. Binding agreements on the acquisitions were signed by the parties involved today. The acquisition is subject to approvals from the antitrust authorities. The purchase price for the acquired businesses is 8 billion dollars (7.4 billion euros). The acquisition is expected to be closed in approximately 12 months.
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