USI completes acquisition of TE Connectivity's automotive business
Universal Scientific Industrial has completed its acquisition of the TE Automotive Wireless business from TE Connectivity Ltd.
Following the acquisition, the automotive wireless business will resume the name "Hirschmann Car Communication", and the company will be led by its existing management team.
"We are thrilled to extend a warm welcome to Hirschmann Car Communication into our corporate family. This strategic acquisition underscores our dedication to advancing automotive electronics and connectivity solutions. The team at Hirschmann Car Communication has demonstrated innovation, resolute, and commitment. Together, we have a common vision for the future of Hirschmann Car Communication and USI," says Jeffrey Chen, Chairman and CEO at USI, in a press release.
Together, USI and Hirschmann Car Communication, will maintain and strengthen existing relationships with customers, partners, and suppliers, and explore fresh possibilities and areas to deepen collaborations.
The acquisition was formally closed and completed on October 27, 2023, marking a significant milestone in USI's expansion initiatives.