Taipei, June 16 (CNA) Taiwan-based power management solution provider Delta Electronics Inc. announced Thursday the signing of an agreement to acquire TB&C Group, a German provider of automotive hybrid components, for 142 million euros (US$155 million).
According to Delta, the acquisition of TB&C, which develops hybrid technologies for mechanical components applied in automotive, industrial and medical applications, is expected to strengthen its electric vehicle (EV) business portfolio.
The transaction will enhance Delta's EV battery management system capabilities by integrating TB&C's technologies with Delta's automotive component product lines, it said.
The acquisition will also generate substantial synergies by leveraging both companies' research and development and manufacturing resources to accelerate Delta's overall EV business expansion, Delta explained.
"The accelerated growth of the global EV market is expected to help Delta's overall business achieve its two-digit growth target over the next five years," said Delta CEO Cheng Ping (鄭平).
Following the closing of the transaction, TB&C's executive management team will continue to lead the organization, Delta added.
