BorgWarner Completes Acquisition of Delphi Technologies
BorgWarner has completed its acquisition of Delphi Technologies, the company announced.
The combination of BorgWarner and Delphi Technologies is expected to strengthen BorgWarner’s electronics and power electronics products, capabilities and scale, the company says.
“We are pleased to complete our acquisition of Delphi Technologies,” said Frédéric Lissalde, President and CEO, BorgWarner. “Through this combination, BorgWarner is even better positioned with a more comprehensive portfolio of industry-leading propulsion products and systems across combustion, hybrid and electric vehicles. We expect that the combination will also strengthen our commercial vehicle and aftermarket businesses. We welcome Delphi Technologies’ colleagues around the world to the BorgWarner team and are excited about the opportunities we have together to address market trends towards electrification. I am proud of our global workforce, including our integration planning teams, for driving the business forward as we managed through the pandemic and laying a strong foundation for a seamless integration. I have great confidence that we will realize what we believe are significant benefits of this combination for our shareholders, customers and suppliers.”
Global aftermarket customers will continue to benefit from an extensive portfolio of BorgWarner and Delphi Technologies OE-quality aftermarket parts, services, diagnostic tools and test equipment, the company says. As a brand of BorgWarner, Delphi Technologies Aftermarket will maintain its brand identity and customers will continue to work with previous contacts for sales and customer service support.
The completion of the transaction follows approval by Delphi Technologies’ shareholders, receipt of required regulatory approvals, the satisfaction of certain conditions relating to indebtedness of Delphi Technologies and the satisfaction or waiver of customary closing conditions.