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Bosch makes billion-dollar US acquisition
Photo: DPA

Bosch makes billion-dollar US acquisition

Published: 24 Jan 2012 15:14 GMT+01:00
Updated: 24 Jan 2012 15:14 GMT+01:00

German automotive parts maker Bosch said Tuesday it has agreed to acquire SPX Service Solutions, a US maker of car service tools, workshop equipment and software for $1.15 billion (€883 million).

"The Bosch Automotive Aftermarket division plans to acquire the Service Solutions business of SPX Corporation. An agreement to this effect was signed on January 23," Bosch said in a statement.

Bosch said SPX Service Solutions "develops, manufactures and sells diagnostic and service tools, workshop equipment, and software for the global automotive aftermarket" and had estimated sales of $920 million last year.

"Acquiring SPX Service Solutions will help make Bosch one of the leading providers of diagnostic solutions," said division chief Robert Hanser.

"The acquisition will allow us to considerably expand our market presence in the diagnostics business, particularly in North America. In addition, we will strengthen our position in Asia Pacific and Europe, especially in our diagnostics business with automakers," Hanser said.

AFP/mry

The Local (news@thelocal.de)

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Your comments about this article

16:50 January 24, 2012 by Wrench
Holy crap on a cracker! I thought my tools were expensive before. I now see a 200% price hike with Bosch on the label.
00:43 January 25, 2012 by Freeman
"This auto comes equipped, with the not yet avail..(hush-hush) dot period. Camera 5, pulls in.., {{ A seemingly far away look becomes the eyes of the speaker, whilst her head slowly gazes upward and views the immensity of heavens above.Sky - blue.and beyond. "Now", continues, " This add-on is simply abbreviated ( *_#$@) , by the boyz in the developing ,..well.,..Know". " Designed to challenge the REAL auto enthusiast of today and tmmrow. But alas who's #'s are few far n wide.Sad to say, All manuf'd at Bosch's other less known ..plant." Billions .
19:57 January 26, 2012 by raandy
Their hand tools su7k.
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