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Germany: Bosch moves beyond car parts with Siemens deal

By  |  September 22, 2014

The world’s largest car parts manufacturer, Germany’s Bosch, is reportedly planning a merger with Siemens in efforts to move beyond its specialty market.

Bosch struck a deal to fully acquire its home appliance joint venture with Siemens for $3.86 billon. The venture will continue to operate under the Siemens brand, the companies said.

Bosch’s announcement is its second in just one week to buy out a joint venture from its partner.

Just days ago the company struck a deal to fully acquire its car steering-systems manufacturing joint venture from partner ZF Friedrichshafen.

Siemens and Bosch have been working as partners since 1967.

Full content: Bloomberg

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