25.01.2012

Bosch plans to acquire SPX Service Solutions business

Bosch's Automotive Aftermarket division plans to acquire the service solutions business of SPX Corporation, headquartered in Charlotte, NC. An agreement to this effect was signed in New York City on January 23, 2012.

SPX Service Solutions develops, manufactures and sells diagnostic and service tools, workshop equipment, and software for the global automotive aftermarket.

For 2011, the business, which is based in Warren, MI (USA), is expected to generate sales of approximately €660 million. It employs some 2,700 associates in 17 countries, primarily in the U.S., Germany, France, and China.

This makes the planned acquisition the largest in the history of the Automotive Aftermarket division. The transaction is subject to normal closing conditions and regulatory approvals, and is expected to close during the first half of 2012. The purchase price amounts to 1.15 billion dollars (roughly 883 million euros).

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