Desay SV Announces Acquisition of Antennentechnik ABB Bad Blankenburg
Desay SV Automotive is to acquire Antennentechnik ABB Bad Blankenburg GmbH (ATBB) through its parent company Huizhou Desay SV Automotive Co., Ltd. The sale and purchase agreement with the majority shareholder, an investment fund advised by PREMIUM Equity Partners and the two other shareholders is signed while the completion of the transaction is expected in the first half of 2019 due to regulatory government approvals.
ATBB, a wholly-owned subsidiary of ANTEBB Holding GmbH is one of the leading specialists and manufacturers of vehicle antenna technologies and systems in Germany. Thanks to a highly experienced, dedicated and innovative team the company has an outstanding position in its sector.
The global automotive market is fast changing and driven by mega trends like Autonomous Vehicle and Connected Cars which led to the need for advanced solutions for vehicle connectivity. This requires reliable and safe transmission of data through high performing antennas. ATBB with its experience and 75-year history in antenna technologies and its applications, offers proven and advanced innovative solutions to various customer groups. It has access to and enjoys excellent customer relationship in the Tier-1 European automotive market. ATBB is fully committed to the R&D and manufacturing of high-technology antenna system solutions. It has a full spectrum of antenna capabilities ranging from product requirement to design and supply to customers.
Desay SV Automotive is a leading and fast growing Chinese Tier-1 automotive electronics company serving both highly respected Chinese and international OEM's. With the acquisition of ATBB, this will complement its product and technology portfolios and boost its strategic growth through its 3 pillar concept of Smart Cabin©, Smart Drive© and Smart Cloud Services©.
"Both companies complement each other well and the combined capabilities will enable us to generate advanced solutions in high performing intelligent antennas to serve our customers with leading and cutting-edge technologies in the area of wireless connectivity, a domain which is growing and becoming crucial” expressed Mr. TAN Choon Lim, Chairman of Desay SV. “With the participation of ATBB, this will facilitate and enhance the implementation of the company’s strategy in its three business sectors offering advanced smart solutions. On the other hand, with Desay SV Automotive wide product portfolio coupled with its diverse customer access in the growing China automotive market, this can only elevates ATBB’s business expansion and improve their customers’ services into new segments and regions.”
Desay SV Automotive confirms its intent to continue the businesses of ATBB with the complete workforce at the new premises in Weimar as a dedicated self-standing subsidiary, fully managed by its current management team, headed by the CEO Dr. Michael Weber.
Dr. Weber expressed that his team and himself are very positive to be part of Desay SV Automotive. "Since the first meeting, the strategic and cultural fit has been excellent. We expect great opportunities in the large and growing China automotive market and together we see the attractive chance to serve the customers best in the upcoming smart antenna architecture and 5G technologies. Together we are capable to speed up innovation and expand both our business in China and Europe" expressed Dr. Weber on his vision.
“The combination of Desay SV Automotive and ATBB, will promote the development of each company. We are very glad to work with new colleagues of ATBB to provide more innovative and intelligent automotive electronic solutions and services to global customers", said Mr. Tan Choon Lim, Chairman of Desay SV.