A PYMNTS Company

US/UK: Delphi to buy HellermannTyton for $1.7 billion for smart cars

By  |  July 30, 2015

US listed auto parts supplier Delphi Automotive is buying British cable equipment maker HellermannTyton Group for about 1.1 billion pounds ($1.7 billion) as it seeks to capitalise on the growing connected-car market.

Delphi said it expects HellermannTyton, which makes products for fastening, fixing, and protecting cables, to help it take advantage of increasing demand for vehicles that connect to the web and smart devices such as phones and tablets.

“With consumers now demanding more connectivity in their vehicles, electrical architecture is the enabler to that added vehicle content,” said Delphi Chief Executive Kevin Clark.

The acquisition is the latest example of automotive suppliers moving beyond nuts and bolts into higher-value components such as electronics and software.

Full content: Reuters

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.