We have great news to share: The Bosch Group plans to acquire the global #HVAC solutions business for residential and light commercial buildings from Johnson Controls. As part of this #transaction, Bosch also intends to acquire 100% of the Johnson Controls-Hitachi Air Conditioning joint venture, including Hitachi’s 40% stake. The purchase price for the acquired businesses is 8 billion dollars. This is the biggest transaction in Bosch history and an important #milestone in the implementation of our corporate #strategy for 2030. As stated by Bosch chairman Stefan Hartung, “In taking this step, we will strengthen our presence in the U.S. and Asia and achieve a better balance among our business sectors. More at https://bit.ly/3Wercgx
We are continuing our growth course with a strategic acquisition: For our Energy and Building Technology business sector, the Bosch Group plans to take over the global HVAC solutions business for residential and light commercial buildings from Johnson Controls. As part of this transaction, we also intend to acquire 100 percent of the Johnson Controls–Hitachi Air Conditioning joint venture, including Hitachi's 40 percent stake. 💬 "As the biggest acquisition in Bosch history, this is an important milestone in the systematic implementation of our strategy for 2030. We are dynamically pushing ahead with the strong development of Bosch, and will achieve a globally leading position in the promising HVAC market with this acquisition," says Bosch chairman Stefan Hartung. 💬 Bosch deputy chairman Christian Fischer adds: "With this acquisition, Bosch will accelerate its growth and nearly double its sales revenue in the HVAC market to roughly 9 billion euros. Together with our future colleagues, we want to seize the huge opportunities offered by the market for the further growth of this new unit." 💬 "It is Bosch's aim to play an active part in shaping the innovative and growing market for energy and building technology, and to occupy a globally leading position. With this acquisition, we are improving our position, especially in air conditioning. In addition, we will be able to globally expand our heat-pump business and achieve greater economies of scale," says Frank Meyer, Bosch board member and responsible for the Energy and Building Technology business sector. Bosch intends to integrate the acquired businesses into the Bosch Home Comfort Group. Home Comfort is excellently positioned in the major segments of the heating market, of the heat-pump market, and of the market for heat pump-hybrid solutions, which comprise a heat pump and a fossil fuel-fired boiler for peak loads. 💬 Jan Brockmann, president of the Bosch Home Comfort Group, says: "With our successful heating technology in Europe, we already have a strong team and a sound foundation. Now is the right time for a bold step toward a global presence. Together, we will be able to build on strong, well-established brands. We are looking forward to shaping the future of the Bosch Home Comfort Group with our future colleagues and their innovations and ideas." Find out more here: https://lnkd.in/eauTwNx8