Editions:  Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland

Bosch makes billion-dollar US acquisition

Share this article

Bosch makes billion-dollar US acquisition
Photo: DPA
15:14 CET+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

Get notified about breaking news on The Local

Share this article

The Local is not responsible for content posted by users.
Become a Member or sign-in to leave a comment.

From our sponsors

Change the world with a master's degree from Sweden's Linköping University

Master's students at world-leading Linköping University (LiU) aren't there simply to study. They solve real-world problems alongside experts in fields that can create a better tomorrow. Do you have what it takes to join them?

Advertisement