Continental acquires vehicle antenna manufacturer Kathrein Automotive
This newly acquired development will help in consolidating the company’s position on the growing vehicle antenna market, Continental said in a release.
“I’m absolutely delighted to have the entire workforce of Kathrein Automotive on board. The more than 1,000 new colleagues we have gained are an invaluable pool of experience and expertise in the field of vehicle connectivity,” said Johann Hiebl, head of the Body & Security and Infotainment & Connectivity business units at Continental.
Acquiring Kathrein Automotive will allow Continental to deepen the level of cooperation within its cross-divisional R&D teams. “We will take immediate steps to work even harder on driving forward the development of high-performance connectivity solutions for intelligent mobility,” Hiebl said.
Both the companies will work closely to build on joint development achievements and drive forward innovations.
Continental is incorporating all Kathrein Automotive employees and all eight locations in Brazil, China, Germany, Mexico, Portugal and the US. The two parties have agreed not to disclose the purchase price.