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Autoliv to acquire MACOM unit

Automotive safety systems provider, Autoliv, has entered into a definitive agreement to acquire the automotive business of M/A-COM Technology Solutions Holdings, Inc.
The “Automotive Solutions” business of MACOM is a supplier of integrated, embedded Global Positioning System (GPS) modules to the automotive industry. Based in Lowell, Massachusetts, USA, the business includes 25 technical, commercial and manufacturing support employees focused on the design, development and production of GPS modules. The 2015 annual revenue estimate is to be around USD 90 million and this transaction is expected to be accretive to Autotliv margins upon closing.

Other technologies and intellectual property included in the transaction are various Radio Frequency (RF) and antenna products (hardware and software) and Electronic Horizon, which is a driver assistance system connecting navigation and GPS data to improve safety, fuel efficiency and reduce emissions.

"This acquisition expands our capability in the Active Safety market and provides additional building blocks to our portfolio in automated driving", said Autoliv Chairman, President & CEO Mr. Jan Carlson. "This transaction also reinforces our commitment to our safety systems approach"..

The purchase price for the “Automotive Solutions” business is USD 100 million in cash, subject to customary working capital and other adjustments, plus up to an additional USD 30 million in cash based on achievement of revenue-based earn-out targets through 2019. In addition, MACOM has agreed to perform consulting services for Autoliv over a 2-year period for up to USD 15 million in fees.

The acquisition is expected to close during the third quarter of 2015 and is subject to customary closing conditions, including regulatory approval.


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