AUO Acquires German Company for $629 Million to Diversity Automotive Product Portfolio

Taiwan’s AUO has entered into an agreement to acquire 100% equity interest in Behr-Hella Thermocontrol GmbH (BHTC), a German company, at an enterprise value of €600 million ($629 million).

Source: AUO

BHTC, established in 1999, is a joint venture between Mahle Behr GmbH & Co. KG and Hella GmbH & Co. KGaA, with a focus on developing, manufacturing, and selling products for the automotive industry. BHTC specializes in human machine interfaces (HMI), climate control (CC), and electronic control units (ECU). It operates with a global presence, including subsidiaries in various countries, and employs around 2,900 individuals. In fiscal year 2022, BHTC reported sales of approximately €619.1 million ($648 million).

AUO’s acquisition of BHTC is in line with its biaxial transformation strategy, which aims to broaden its presence in vertical markets and establish a robust value chain ecosystem. This strategic acquisition allows AUO to expand its smart mobility business and diversify its product portfolio. BHTC’s expertise in HMI, CC, and ECU technologies is of particular interest to AUO, as these technologies play a crucial role in enhancing the in-vehicle experience, especially in the context of electric vehicles and autonomous vehicles.

The transaction has been approved by the AUO board of directors and will be financed using AUO’s internal cash resources. It is anticipated to close by mid-2024, subject to customary antitrust and regulatory approvals.