Valeo confirms the acquisition of the German company peiker
Paris, France, March 8th, 2016 – After having received the authorizations from the relevant anti-trust authorities and as announced on December 21, 2015 Valeo confirms today the acquisition of the German company peiker, a major supplier of onboard telematics and mobile connectivity solutions. The acquisition will enable Valeo to widen its range of connectivity-related products.
The acquisition will enable Valeo to widen its range of connectivity-related products.
The acquisition of peiker, which is expected to report sales of around €325 million for 2015, will have a positive impact on Valeo’s results starting in 2016.
Jacques Aschenbroich, Chairman and CEO of Valeo, comments: “As we at Valeo warmly welcome peiker teams, I would like to pay tribute to the remarkable role played by Andreas Peiker during his 33 years as CEO. Under his tenure, peiker has transformed into a truly respected leader in telematics and connectivity solutions.”
Valeo is an automotive supplier, partner to all automakers worldwide. As a technology company, Valeo proposes innovative products and systems that contribute to the reduction of CO? emissions and to the development of intuitive driving.
In 2014, the Group generated sales of 12.7 billion euros and invested over 10% of its original equipment sales in research and development. Valeo has 133 plants, 16 research centers, 34 development centers, 15 distribution platforms and employs 78,500 people in 29 countries worldwide.
Valeo is listed on the Paris Stock Exchange and is a member of the CAC 40 index.
For more information about the Valeo Group and its activities, please visit our website www.valeo.com
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