Bosch, the supplier of technology and services, is continuing its growth course with a strategic acquisition. For its Energy and Building Technology business sector, the Bosch Group plans to take over the global HVAC solutions business for residential and light commercial buildings from Johnson Controls.
As part of this transaction, Bosch also intends to acquire 100% of the Johnson Controls-Hitachi Air Conditioning (JCH) joint venture, including Hitachi’s 40% stake. The Bosch shareholders and supervisory board have approved the transaction.
Recently, the binding agreements on the acquisitions has been signed by the parties involved. The acquisition is subject to approvals from the antitrust authorities. The purchase price for the acquired businesses is 8 billion dollars
(7.4 billion euros). The acquisition is expected to be closed in approximately 12 months.
Commenting on the acquisition, Stefan Hartung, Chairman of the Board of Management of Robert Bosch GmbH, said, “As the biggest acquisition in Bosch history, this is an important milestone in the systematic implementation of our strategy for 2030. We are dynamically pushing ahead with the strong development of Bosch, and will achieve a globally leading position in the promising HVAC market with this acquisition.”
