Preh Finalizes Acquisition of TechniSat

Joyson and Preh create a global player for car infotainment, connectivity and telematics.
By: Preh, Inc.
 
 
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Acquisition
Automotive Electronics
Driver Controls

Industry:
Automotive

Location:
Novi - Michigan - US

NOVI, Mich. - April 29, 2016 - PRLog -- The acquisition of TechniSat Automotive by the automotive supplier Preh, a member of the Joyson Group, which was announced at the beginning of February 2016, has now taken effect-following approval by the relevant trade authorities. The Chinese Ningbo Joyson Electronic Corp. and its German subsidiary Preh Holding GmbH respectively hold 50 % of the new company which will now operate as "Preh Car Connect GmbH".

The new Preh Car Connect GmbH will form the Joyson organizational division "Automotive Electronics and Automation" under Preh Holding together with Preh GmbH. The acquisition substantially strengthens the Preh Group, making it a global system supplier for central operating functions and the networking of vehicles. Together, the Preh companies achieve a sales volume of more than one billion euros and have competencies in the fields of human machine interface-Systems (HMI), car infotainment, connectivity and telematics as well as automation. The previous parent company of TechniSat Automotive, TechniSat Digital GmbH from Daun, Germany, will now focus on the division of "Consumer Electronics" and develop this field of business independently.

The acquisition increased the number of Preh employees by 1,200 to a current staff of about 6,200. The new "Preh Car Connect GmbH" will be headquartered at the previous TechniSat Automotive location in Dresden. In addition, the plants in Dippach/Thüringen and Oborniki (Poland), as well as the branches in San Carlos/California (USA), Shanghai (China) and an operating facility in Daun will also be integrated into the Preh Group. The customers of TechniSat Automotive will retain their previous contacts.

The former TechniSat Automotive CEO, Peter Kohlschmidt, will at the same time ensure the highest level of continuity in the management of Preh Car Connect GmbH as Speaker of the Management Board/CEO. In addition, the long-term Preh managers Rui Marques Dias (CFO) and Benjamin Lobenz (COO) were appointed to the company management.

On the occasion of the contract closing, Jeff Wang, founder and majority shareholder of Joyson, said, "I am extremely pleased that we will now launch an even stronger Preh Group. We will combine the operating system competencies of Preh with the infotainment and telematics know-how of TechniSat Automotive to provide overall innovative solutions.  Preh and TechniSat Automotive complement each other optimally. The partnership between both companies offers us as well as our clients entirely new opportunities. The Joyson growth story will therefore continue to gain in speed."

Christoph Hummel, the head of management of the Preh Group, added, "The technological and product connections between our traditional Preh business and the market segment of the new Preh Car Connect fit together perfectly.  For example, it's possible to integrate the haptic feedback of Preh into TechniSat products, while features of TechniSat will supplement Preh central consoles. To that extent, it's not a matter of an acquisition aimed at increasing synergies, but a growth-oriented combination of technological competencies and market access."

Preh Car Connect GmbH develops and produces innovative products and software solutions in the fields of car infotainment and navigation, as well as vehicle networking and telematics. As a direct Tier One supplier of the automotive industry, the company has many years of experience as a development partner for the navigation systems of leading automotive manufacturers, particularly the Volkswagen Group. The competencies acquired over many years by the new Preh subsidiary also include software solutions for tuners and telematics.

About Joyson
Joyson Investment Holding Co., Ltd, Ningbo (China), has a real estate division in addition to the business fields automotive supply and automation, and employs a staff of 8,200 employees worldwide. The Joyson Group was founded in 2004 by Jeff Wang.  Joyson has combined its automotive and automation activities in the stock exchange-listed company Joyson Electronics, Ningbo/China (600699:Shanghai). Within Joyson Electronics, Preh represents the business divisions Automotive Electronics, and Automation, while the Joyson Automotive and QUIN companies form the division "Automotive Components".

About Preh
As a global automotive supplier and automation specialist, Preh GmbH achieved revenues of some €760 million with about 4,900 employees and could thereby continue its dynamic double-digit growth. The company was founded in Bad Neustadt a. d. Saale in 1919 and has belonged to the Joyson Group since 2011. The development and production competencies of Preh GmbH focus on car HMI systems and e-mobility control devices, as well as assembly and automation systems. For more information, please visit http://www.preh.com.

Preh Car Connect GmbH (formerly TechniSat Automotive) has developed and produced high-quality products in the field of Car Infotainment for more than 15 years, in particular car radios and radio navigation systems. In 2015, the automotive supplier achieved sales of around €400 million with 1,200 employees, which is another high double-digit percentage growth. The Preh Group now has five locations in Germany, as well as plants and sales locations in Portugal, Rumania, Poland, Mexico, the U.S.A. and China.

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Barrett Kalellis
***@preh.com
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Tags:Acquisition, Automotive Electronics, Driver Controls
Industry:Automotive
Location:Novi - Michigan - United States
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