Further expand the integrated and highly engineered solution essential for connected car and autonomous driving development
Extending German Hirschmann's innovative products in the field of smart antennas and broadcast tuners to the global market
Schaffhausen, Switzerland – June 26, 2017 – Today, TE ConnecTIvity Ltd. (hereafter referred to as “TEâ€, NYSE: TEL), a global leader in connectivity and sensing, announced the official acquisition of VOXX InternaTIonal Agreement of the company's German Hirschmann Automotive Communications Equipment Company.
Founded in 1924, Hirschmann Automotive Communications is the world's leading provider of antennas, antenna systems and broadcast tuners for passenger and commercial vehicle applications. The company is headquartered in Germany and was acquired by VOXX in 2012.
"The acquisition of Hirschmann will further expand TE's product portfolio and integrated and highly engineered solutions for connected cars and autonomous vehicles worldwide," said Eric Kueppers, Global President, TE Automotive, "Enhancing Data Demand And new applications put forward requirements for active information exchange, and also increase the need for connectivity inside and outside the car. Combining the leading antenna technology of Hirschmann with the advantages of TE in the field of sensing and connection will help Further enriching the product portfolio at TE, providing our customers with a high value-added, integrated one-stop end-to-end solution."
Ludwig Geis, President of Hirschmann Automotive Communications Equipment, Germany, said: "Herman will bring outstanding R&D and engineering capabilities in electronics and software development. Together with TE's global scale and close customer relationships, we will be able to Providing highly engineered solutions for deep market applications to customers around the world."
In addition, this agreement will help expand the application value of TE products within each vehicle, and open up new growth potential to further consolidate TE's global leadership in automotive sensing and connectivity. Germany's Hirschmann Automotive Communications Equipment is known for its strong engineering capabilities and ability to develop high-tech product portfolios such as antenna modules and tuners for automotive connectivity. In the future, the total market for automotive antennas alone will reach more than $2 billion, with an annual growth rate of 5%.
The agreement still needs to be approved by the regulatory authorities. Upon completion of the transaction, the business unit will be part of the TE Transportation Solutions business unit.
About TE ConnecTIvity
TE ConnecTIvity (NYSE: TEL) is a global technology leader with annual sales of $12 billion. We are committed to innovation and continue to drive the development of transportation, industrial applications, medical technology, energy, data communications and home. TE's industry-leading connectivity and sensing solutions are proven in harsh environments to help create a safer, greener, smarter and connected world. TE employs approximately 75,000 people worldwide, more than 7,000 of whom are engineers and collaborate with clients in nearly 150 countries around the world. TE believes that "infinite linkage, in one". For more information, please visit.
About Germany Hirschmann Automotive Communication EquipmentHessmann Automotive Communications, Inc. is one of the world's leading communications manufacturers, providing antennas, transmitters, receivers, M2M and telematics for automotive communications and connectivity. The company is a major antenna supplier to the world's leading automotive manufacturers and a leader in TV tuner applications in the Europe, Middle East and Africa (EMEA) region. The company has offices in Europe, North America and China. –
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