Ad
Ad
Ad
Ad
© mikael damkier dreamstime.com Business | January 04, 2019

Molex completes acquisition of Laird CVS business

Molex Electronic Technologies says that the company has completed the acquisition of the Connected Vehicle Solutions (CVS) division of Laird Limited, owned by funds managed by Advent International.
It was back in late September 2018, when Molex announced an agreement to acquire CVS, which specialises in the design, development and delivery of vehicle antenna systems, smart device integration and vehicle connectivity devices.

“This strategic move supports our solutions vision and expands our capabilities in the changing automotive market,” says Joe Nelligan, CEO of Molex, in a press releae. “By expanding the Molex automotive portfolio with Laird CVS, we will deliver even greater value to leading automotive OEMs building the next-generation of intelligent vehicles. We are looking forward to working closely with our new colleagues and welcome them to Molex.”

Demand is on the rise for seamless end-to-end network communications and integration across hardware, software and services in the automotive industry. Through the acquisition, Molex continues a strategic expansion and builds on existing capabilities to serve customers developing agile connected vehicle technologies integrating the Molex 10Gbps Automotive Ethernet Network Platform and other connected mobility solutions.

“As a business within a fast growing and dynamic market, we are delighted to join a strong company with the global scale and resources to innovate and invest in achieving the considerable potential of CVS in the connected vehicle space. As part of Molex we aim to help advance the industry toward a future dominated by intelligent and autonomous vehicles on every roadway,” says Steven Brown, president, Laird CVS.
Ad
Ad
Load more news
January 11 2019 8:28 pm V11.10.27-1