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Molex Announces Agreement to Acquire Laird Connected Vehicle Solutions Division

September 28, 2018

LISLE, Ill.--(BUSINESS WIRE)--Sep 28, 2018--Molex Electronic Technologies, LLC, a leading global manufacturer of electronic solutions, announced today that the company has agreed to acquire the Connected Vehicle Solutions (“CVS”) division of Laird Limited, owned by funds managed by Advent International.

Laird CVS specializes in the design, development and delivery of vehicle antenna systems, smart device integration and vehicle connectivity devices.

These solutions will enhance Molex’s capabilities and support the development of agile connected vehicle technology ecosystems featuring the innovative 10Gbps Ethernet backbone for automotive OEMs building next-generation, intelligent vehicles.

“There is tremendous demand for seamless end-to-end network integration across hardware, software and services in the automotive industry,” said Tim Ruff, senior vice president, Molex Business Development. “Laird CVS expands our geographic reach and strengthens our ability to support automotive OEMs seeking to introduce future-ready vehicles with critical functionality while still containing costs. It aligns with our strategy to provide groundbreaking solutions for a growth market.”

Laird’s world-class expertise and custom-engineered solutions enable customers to transform vehicle connectivity across the globe, making the company a trusted partner to the world’s leading automotive OEMs.

“Our team is excited about the opportunities this transaction creates to combine our technology expertise and experience with that of Molex to help automotive OEMs anticipate and meet the complex challenges of keeping vehicles connected on the move, especially as we continue to move closer to a future where autonomous vehicles are commonplace,” said Steven Brown, president, Laird Connected Vehicle Solutions.

Jones Day acted as Molex’s legal advisor and Evercore served as financial advisor. For Advent, Weil Gotschal acted as legal advisor and Goldman Sachs and Citibank as financial advisors. Financial terms of the transaction were not disclosed. The transaction is subject to customary regulatory clearances.

For more information about Molex automotive connected mobility solutions, please click here.

About Laird:

Laird is focused on providing systems, components and solutions that protect electronics from electromagnetic interference and heat, and that enable mission critical connectivity through wireless applications and advanced antenna systems. Laird’s products are critical to all sectors of the electronics industry, including transportation, industrial, medical, telecommunications, computing, and the mobile device sectors. Please visit www.lairdtech.com for more information.

About Molex:

Molex brings together innovation and technology to deliver electronic solutions to customers worldwide. With a presence in more than 40 countries, Molex offers a full suite of solutions and services for many markets, including data communications, consumer electronics, automotive, industrial and medical. For more information, please visit  www.molex.com.

Molex is a registered trademark of Molex, LLC in the United States of America and may be registered in other countries; all other trademarks listed herein belong to their respective owners.

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KEYWORD: UNITED STATES NORTH AMERICA ILLINOIS

INDUSTRY KEYWORD: TECHNOLOGY CONSUMER ELECTRONICS HARDWARE NETWORKS SEMICONDUCTOR MOBILE/WIRELESS MANUFACTURING AUTOMOTIVE MANUFACTURING AUTOMOTIVE GENERAL AUTOMOTIVE

SOURCE: Molex Electronic Technologies, LLC

Copyright Business Wire 2018.

PUB: 09/28/2018 08:40 AM/DISC: 09/28/2018 08:40 AM

http://www.businesswire.com/news/home/20180928005260/en

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