Valeo has announced the acquisition of the German company peiker, a major supplier of on-board telematics and mobile connectivity solutions. The acquisition will enable Valeo to widen its range of connectivity-related products.
Valeo’s know-how in on-board electronics, enriched with peiker’s technological expertise, will allow the Group to offer automakers new telematics systems equipped with the high-speed connectivity and cybersecurity features that this high-growth market demands. These systems will notably feature innovative vehicle-to-vehicle (V2V) and vehicle-toinfrastructure (V2I) communication technologies, and be compatible with forthcoming LTE Advanced (4G+) mobile internet services.
A pioneer in the field of intuitive driving, Valeo is developing an extensive range of technology systems using ultrasonic sensors, radars, cameras, laser scanners, head-up displays and software to make the car of the future more energy efficient, safer and more intuitive. With this acquisition, Valeo will strengthen its leadership in the field of autonomous, connected vehicles.
The acquisition of peiker, which will report sales of around €310 million in 2015, will have a positive impact on Valeo’s results starting in 2016. The transaction is subject to the approval of the relevant anti-trust authorities.
Commenting on the acquisition, Jacques Aschenbroich, Valeo’s Chief Executive Officer, said: “We are delighted to welcome the peiker teams to Valeo. Our exchanges with peiker’s experts, under the technological cooperation agreement we signed in early 2015, have been extremely fruitful. We highly value the technology culture that Andreas Peiker and his family have built over the decades. peiker’s portfolio of technologies, products and services is perfectly aligned with our vision of driving for the autonomous, connected and intuitive car of the future. The acquisition also reinforces Valeo’s presence in Germany by integrating into our company 700 local employees, including 150 highly skilled engineers.”
