Autoliv Expands Active Safety Capability
July 16 2015 - 6:09PM
Business Wire
Regulatory News:
Autoliv, Inc. (NYSE: ALV and SSE: ALIVsdb), the worldwide leader
in automotive safety systems announced today that it has entered
into a definitive agreement to acquire the automotive business of
M/A-COM Technology Solutions Holdings, Inc. (NASDAQ: MTSI)
(MACOM).
The “Automotive Solutions” business that Autoliv intends to
acquire is a carve-out of the automotive business of MACOM, a
leading supplier of high-performance analog RF, microwave,
millimeterwave and photonic semiconductor products.
The “Automotive Solutions” business of MACOM is a leading
supplier of integrated, embedded Global Positioning System (GPS)
modules to the automotive industry. Based in Lowell, Massachusetts,
USA, the business includes 25 technical, commercial and
manufacturing support employees focused on the design, development
and production of GPS modules. The 2015 annual revenue estimate is
to be around $90 million and this transaction is expected to be
accretive to Autotliv margins upon closing.
Other technologies and intellectual property included in the
transaction are various Radio Frequency (RF) and antenna products
(hardware and software) and Electronic Horizon, which is an
advanced driver assistance system connecting navigation and GPS
data to improve safety, fuel efficiency and reduce emissions.
"This acquisition expands our capability in the Active Safety
market and provides additional building blocks to our portfolio in
automated driving”, said Autoliv Chairman, President & CEO Mr.
Jan Carlson. “This transaction also reinforces our commitment to
our safety systems approach”, added Mr. Carlson.
The purchase price for the “Automotive Solutions” business is
$100 million in cash, subject to customary working capital and
other adjustments, plus up to an additional $30 million in cash
based on achievement of revenue-based earn-out targets through
2019. In addition, MACOM has agreed to perform consulting services
for Autoliv over a 2-year period for up to $15 million in fees.
The acquisition is expected to close during the third quarter of
2015 and is subject to customary closing conditions, including
regulatory approval.
About Autoliv
Autoliv, Inc., the worldwide leader in automotive safety
systems, develops and manufactures automotive safety systems for
all major automotive manufacturers in the world. Together with its
joint ventures, Autoliv has close to 80 facilities with more than
60,000 employees in 28 countries. In addition, the Company has ten
technical centers in nine countries around the world, with 21 test
tracks, more than any other automotive safety supplier. Sales in
2014 amounted to US $9.2 billion. The Company's shares are listed
on the New York Stock Exchange (NYSE: ALV) and its Swedish
Depository Receipts on the OMX Nordic Exchange in Stockholm (ALIV
sdb). For more information about Autoliv, please visit our company
website at www.autoliv.com.
About MACOM
MACOM (http://www.macom.com/) is a leading supplier of
high-performance analog RF, microwave, millimeterwave and photonic
semiconductor products that enable next-generation Internet and
modern battlefield applications. Recognized for its broad catalog
portfolio of technologies and products, MACOM serves diverse
markets, including high speed optical, satellite, radar, wired and
wireless networks, industrial, medical, and mobile devices. A
pillar of the semiconductor industry, MACOM thrives on more than 60
years of solving its customers' most complex problems, serving as a
true partner for applications ranging from RF to Light.
Headquartered in Lowell, Massachusetts, MACOM is certified to
the ISO9001 international quality standard and ISO14001
environmental management standard. MACOM has design centers and
sales offices throughout North America, Europe, Asia and
Australia.
MACOM, M/A-COM, M/A-COM Technology Solutions, M/A-COM Tech,
Partners in RF & Microwave, Partners from RF to Light, The
First Name in Microwave and related logos are trademarks of MACOM.
All other trademarks are the property of their respective
owners.
Safe Harbor Statement
This report contains statements that are not historical facts
but rather forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Such
forward-looking statements include those that address activities,
events or developments that Autoliv, Inc. or its management
believes or anticipates may occur in the future, including closing
of the acquisition, anticipated revenue of the acquired business
and the anticipated product offering. All forward-looking
statements are based upon our current expectations, various
assumptions and data available from third parties. Our expectations
and assumptions are expressed in good faith and we believe there is
a reasonable basis for them. However, there can be no assurance
that such forward-looking statements will materialize or prove to
be correct as forward-looking statements are inherently subject to
known and unknown risks, uncertainties and other factors which may
cause actual future results, performance or achievements to differ
materially from the future results, performance or achievements
expressed in or implied by such forward-looking statements.
Numerous risks, uncertainties and other factors may cause actual
results to differ materially from those set out in the
forward-looking statements. The Company undertakes no obligation to
update publicly or revise any forward-looking statements in light
of new information or future events. For any forward-looking
statements contained in this or any other document, we claim the
protection of the safe harbor for forward-looking statements
contained in the Private Securities Litigation Reform Act of 1995,
and we assume no obligation to update any such statement.
This information was brought to you by Cision
http://news.cision.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20150716006614/en/
Inquiries:Ray Pekar, Vice President Investor Relations Americas,
Tel +1 248 475 0427Thomas J�nsson, Group Vice President
Communications, Tel +46 (0)8 58 72 06 27
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