Joyson and Preh acquire BU from TechniSat

The parties signed an according contract on January 29, 2016. Within the Joyson Group, TechniSat Automotive will be operated in the Automotive Electronics division together with Preh GmbH as Preh TechniSat Car Connect GmbH. The approximately 1'200 employees at TechniSat Automotive will be taken over. Likewise, the TechniSat development locations in Dresden, San Carlos/California (USA) and Shanghai (China), as well as the production sites in Dippach/Thuringia and Oborniki (Poland) and an operative location in Daun will all be retained. The contractual parties agreed not to divulge details of the transaction. The takeover is subject to approval by the relevant authorities. In future, TechniSat Digital GmbH, Daun will focus on its Consumer Electronics division and independently develop that field further. Following the agreement, Jeff Wang, founder and majority shareholder of Joyson, stated: “We’re beginning a new chapter in the Joyson growth story. The takeover of TechniSat Automotive moves our already highly successful Automotive Electronics activities into a new dimension. The competences of Preh and TechniSat Automotive complement each other ideally and open up new mutual business potential. We will integrate the renowned Preh car HMI concepts with TechniSat Automotive’s successful telematics and infotainment in innovative overall solutions. That creates new opportunities for the comprehensive networking of vehicles and brings us a decisive step closer to the Joyson vision of a ‘Connected Car’. I’m convinced that the take-over represents a win-win situation for both Preh and TechniSat.” The founder and Managing Director of TechniSat Automotive, Peter Lepper, stated: “For us the key was to find an investor that had both the technical knowhow and the broad customer base to develop our automotive business further in a forward-looking way. The international competitive position of TechniSat Automotive is sustainably strengthened through the investor Joyson and the operative partner Preh. The medium sized cultural imprints of the companies also suit each other very well. In that respect, the new partnership offers good prospects for TechniSat Automotive employees. At the same time, TechniSat Digital GmbH will now focus completely the Consumer Electronics division and expand it further.” The Preh CEO Christoph Hummel said: “We look forward to collaborating with our colleagues from TechniSat Automotive and welcome them to the Joyson Group. We at Preh value the high level of technological competence and innovative drive at TechniSat Automotive and are convinced we ‘speak the same language’ in terms of business understanding and technological trends. With the support of our partner Joyson, we will exploit new business potential and achieve successful international growth.” According to Hummel, instead of being a classic synergy theme, the takeover is far more a perfect combination of technological competences and market access.