VIENNA – Automotive supplier Magna acquires Telemotive, an engineering-service provider in the field of automotive electronics. The transaction is expected to close in the second quarter of 2016.
Once complete, Telemotive, with its five German facilities and about 550 employees, will be integrated into Magna’s vehicle-engineering and contract-manufacturing operating unit, Magna Steyr.
The addition of Telemotive expands Steyr’s engineering-services product portfolio in vehicle connectivity, human machine interface and infotainment, Magna says in a news release.
“This acquisition strengthens our position to not only help customers meet today’s challenges, but also those of the car of the future including the increased integration of electronic vehicle systems,” says Karl-Friedrich Stracke, president-Magna Steyr Contract Manufacturing and Engineering. “We are excited to combine our holistic vehicle-engineering knowledge with Telemotive’s electronics know-how.”
Adds Günther Apfalter, president-Magna Europe & Magna Steyr: “In today’s era of digitization, it is critical for suppliers like Magna to have engineering expertise in these core areas. As the car evolves from primarily mechanical to more electronic systems, we are in a unique position, with deep systems knowledge and full vehicle-electronics expertise to continue to deliver innovative solutions to the market.”
Through its Magna Steyr unit, Magna claims it is the world’s leading, brand-independent vehicle manufacturing partner for automakers. The supplier has 139,000 employees at 305 manufacturing operations and 93 product development, engineering and sales centers in 29 countries.
