BorgWarner has announced that it will acquire the UK’s Delphi Technologies in an all-stock transaction that values Delphi at approximately $3.3 billion. This acquisition will strengthen the U.S. company’s power electronics products, capabilities and scale.
The combined entity will operate as BorgWarner. It will be headquartered in Auburn Hills, Michigan.
Frédéric Lissalde, President and CEO of BorgWarner, says: “Delphi Technologies will bring proven leading power electronics technologies, talent and scale that will complement our hybrid and electric vehicle propulsion offerings. As a combined company, we look forward to delivering enhanced solutions to our customers while driving increased value for our stockholders.”
Richard F. Dauch, CEO of Delphi Technologies, adds: “Delphi Technologies’ portfolio is highly complementary to BorgWarner’s, and together we plan to create a pioneering propulsion technologies company uniquely equipped to serve OEMs and aftermarket customers around the world. BorgWarner’s team shares our focus on addressing today’s and tomorrow’s challenges, and the combination will create exciting opportunities for our employees.”
BorgWarner currently has manufacturing and technical facilities in 67 locations in 19 countries and employs approximately 30,000 worldwide.