Joyson acquires German infotainment supplier
Ningbo Joyson Electronic Corp. has acquired TechniSat Automotive, a supplier of navigation systems, radios and telematics, from its German parent, TechniSat Digital GmbH.
TechniSat Automotive will join Preh GmbH, which Joyson purchased in 2011, in Joyson's automotive electronics division. Preh and Joyson each will hold a 50 percent stake in TechniSat Automotive.
Preh and TechniSat combined will generate annual sales of 1 billion euros (7.39 billion yuan), Joyson said in a written statement. Together, Preh and TechniSat "can develop into a global player for car connectivity and human-machine interface systems," Joyson said.
TechniSat's customers include Volkswagen Group and other automakers.
The company has r&d centers in Dresden, Germany, and Shanghai, plus factories in Germany and Poland. TechniSat's automotive unit, which employs 1,200 people, generated sales of 450 million euros last year.
Preh, headquartered in Bad Neustadt, Germany, makes automotive infotainment controls and production systems. It employs 4,900 workers and has operations in Germany, Portugal, Romania, Mexico, the United States and China.
Joyson, founded in 2004, has 8,200 employees worldwide.
Preh and TechniSat combined will generate annual sales of 1 billion euros (7.39 billion yuan), Joyson said in a written statement. Together, Preh and TechniSat "can develop into a global player for car connectivity and human-machine interface systems," Joyson said.
TechniSat's customers include Volkswagen Group and other automakers.
The company has r&d centers in Dresden, Germany, and Shanghai, plus factories in Germany and Poland. TechniSat's automotive unit, which employs 1,200 people, generated sales of 450 million euros last year.
Preh, headquartered in Bad Neustadt, Germany, makes automotive infotainment controls and production systems. It employs 4,900 workers and has operations in Germany, Portugal, Romania, Mexico, the United States and China.
Joyson, founded in 2004, has 8,200 employees worldwide.
