AUBURN HILLS, Mich. – BorgWarner announced today it will buy Delphi Technologies in an all-stock transaction.
The company says the transaction will strengthen its power electronics products, capabilities and scale. The company says the acquisition establishes it as one of the leading pure play propulsion companies in the world, serving light and commercial vehicle manufacturers and the aftermarket.
“This exciting transaction represents the next step in BorgWarner’s balanced propulsion strategy, strengthening our position in electrified propulsion as well as our combustion, commercial vehicle and aftermarket businesses,” said Frederic Lissalde, president and CEO of BorgWarner. “Delphi Technologies will bring proven leading power electronics technologies, talent and scale that will complement our hybrid and electric vehicle propulsion offerings. As a combined company, we look forward to delivering enhanced solutions to our customers while driving increased value for our stockholders.”
“This is a compelling transaction that we are confident delivers clear benefits to our stakeholders,” added Richard F. Dauch, CEO of Delphi Technologies. “Delphi Technologies’ portfolio is highly complementary to BorgWarner’s, and together we plan to create a pioneering propulsion technologies company uniquely equipped to serve OEMs and aftermarket customers around the world.”
The transaction is expected to close in the second half of 2020.