BorgWarner Inc. has completed its acquisition of Delphi Technologies – a move that is expected to strengthen BorgWarner’s electronics and power electronics products, capabilities, and scale.
The announcement 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.
Delphi’s aftermarket business will maintain its brand identity, operating as a brand of BorgWarner.
“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.”
He said he expects the acquisition will strengthen BorgWarner’s 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.”
Bringing BorgWarner and Delphi Technologies together is expected to:
Strengthen BorgWarner’s electronics and power electronics products, capabilities and scale, creating a leader in electrified propulsion systems that BorgWarner believes is well-positioned to take advantage of future propulsion migration. Delphi Technologies brings industry leading power electronics technology and talent, with an established production, supply and customer base. The combined company will offer customers a suite of integrated and standalone offerings of power electronics products (including high voltage inverters, converters, on-board chargers and battery management systems) and capabilities (including software, systems integration and thermal management).
Enhance BorgWarner’s combustion, commercial vehicle and aftermarket businesses. Delphi Technologies’ breadth of combustion propulsion products complements BorgWarner’s innovative portfolio, which is focused on clean technologies to increase efficiency and performance of modern combustion vehicles. Adding Delphi Technologies’ commercial vehicle and aftermarket business results in more balance across light vehicles, commercial vehicles and the aftermarket.
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.
As a brand of BorgWarner, Delphi Technologies Aftermarket will maintain its brand identity, and customers across the world will be able to rely on their trusted contacts for sales and customer service support.
Delphi Technologies common stock will cease to be traded on the New York Stock Exchange.