Bosch announces its intention to acquire a leading Australian motorsports technology company with focus on the customer racing market
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(PRESS RELEASE) ABSTATT / MELBOURNE, 21-Jun-2022 — /EuropaWire/ — Robert Bosch GmbH (Bosch), a German multinational engineering and technology company, has announced its plan for the acquisition of MoTeC Group, a Melbourne, Australia based company with leading positions in the motorsports and racing market. The two companies have signed the acquisition agreement in June 2022 as the transaction is subject to approval by the respective merger control authorities. The purchase price has been agreed not to be disclosed by the two companies.
In organizational terms, MoTeC will become an integral part of Bosch Motorsport, a business unit of Bosch Engineering GmbH, a 100% Bosch subsidiary based in Abstatt, Germany. As an engineering service provider, Bosch Engineering offers customized development and consulting services in the automotive and motorsport sectors. With its wide range of motorsports technology, MoTeC’s portfolio includes vehicle and engine control units, displays, data loggers and onboard power supply control units for conventional as well as electrified racing series. The company serves its customers in Australia, Asia-Pacific, Europe, USA and Japan through a global network of around 250 dealers. With the acquisition of the MoTeC Group, Bosch Motorsport is extending its product portfolio and distribution to serve additional racing series as well as the racer market in the future. In addition, Bosch Motorsport is expanding its sales network and market presence primarily in the Asia-Pacific region, USA and the UK. “With the MoTeC Group’s many years of experience and comprehensive expertise, as well as its worldwide dealer network, we are strengthening our position in motorsports and ideally complementing our product portfolio,” says Dr. Klaus Boettcher, Vice President Bosch Motorsport.
The MoTeC Group employs 54 people worldwide between its headquarters and a sales and technical customer service office in Banbury (UK). The MoTeC Group’s business operations will be continued in future as a separate legal entity, under its own brand.
Media contact:
Amy KaaRobert Bosch Australia Pty. Ltd.Email: Amy.Kaa@au.bosch.comphone: +61 3 9541 7800
Mobility Solutions is the largest Bosch Group business sector. It generated sales of 45.3 billion euros in 2021, and thus contributed 58 percent of total sales from operations. This makes the Bosch Group one of the leading automotive suppliers. The Mobility Solutions business sector pursues a vision of mobility that is safe, sustainable, and exciting, and combines the group’s expertise in the domains of personalization, automation, electrification, and connectivity. For its customers, the outcome is integrated mobility solutions. The business sector’s main areas of activity are injection technology and powertrain peripherals for internal-combustion engines, diverse solutions for powertrain electrification, vehicle safety systems, driver-assistance and automated functions, technology for user-friendly infotainment as well as vehicle-to-vehicle and vehicle-to-infrastructure communication, repair-shop concepts, and technology and services for the automotive aftermarket. Bosch is synonymous with important automotive innovations, such as electronic engine management, the ESP anti-skid system, and common-rail diesel technology.
About Bosch Engineering GmbH
Bosch Engineering GmbH is a wholly owned subsidiary of Robert Bosch GmbH and is head-quartered in Abstatt, Germany. As a systems development partner to the automotive industry since 1999, the company with its more than 3,000 associates offers development services for powertrains, safety and convenience systems, and electrical and electronic systems – from the original concept to series production. Specialized in electronics and software, it draws on Bosch’s proven large-scale series production technology to develop tailored solutions for a wide variety of applications in passenger cars, commercial vehicles, off-highway and recreational vehicles, and in rail applications, ships, and industry. Bosch Engineering GmbH also coordinates all the Bosch Group’s motorsports activities.
Additional information can be accessed at www.bosch-engineering.com.
The Bosch Group is a leading global supplier of technology and services. It employs roughly 402,600 associates worldwide (as of December 31, 2021). The company generated sales of 78.7 billion euros in 2021. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. As a leading IoT provider, Bosch offers innovative solutions for smart homes, Industry 4.0, and connected mobility. Bosch is pursuing a vision of mobility that is sustainable, safe, and exciting. It uses its expertise in sensor technology, software, and services, as well as its own IoT cloud, to offer its customers connected, cross-domain solutions from a single source. The Bosch Group’s strategic objective is to facilitate connected living with products and solutions that either contain artificial intelligence (AI) or have been developed or manufactured with its help. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is “Invented for life.” The Bosch Group comprises Robert Bosch GmbH and its roughly 440 subsidiary and regional companies in some 60 countries. Including sales and service partners, Bosch’s global manufacturing, engineering, and sales network covers nearly every country in the world. With its more than 400 locations worldwide, the Bosch Group has been carbon neutral since the first quarter of 2020. The basis for the company’s future growth is its innovative strength. At 128 locations across the globe, Bosch employs some 76,100 associates in research and development, of which more than 38,000 are software engineers.
Additional information is available online at www.bosch.com, www.iot.bosch.com, www.bosch-press.com, www.twitter.com/BoschPress.
SOURCE: Robert Bosch GmbH
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Notification shares buy-back: DIGI COMMUNICATIONS N.V. reports to the regulated market the transactions which occurred under the DIGI symbol, 20 – 24 Jan 2020
Digi Communications N.V.: (i) launch of an offering by RCS & RDS S.A. of senior secured notes; (ii) issuance of a notice of conditional full redemption of all outstanding €550.0m 5.0% senior secured notes due 2023 issued by the Company and (iii) restatement by the Company of its unaudited interim condensed consolidated financial statements for the 9-month period ended 30 Sep 2019
Notification shares buy-back: DIGI COMMUNICATIONS N.V. reports to the regulated market the transactions which occurred under the DIGI symbol, 13 – 17 Jan 2020
Reporting of legal documents concluded by DIGI Communications N.V. in December 2019 or in other period but effective in December 2019, in accordance with article 82 of Law no. 24/2017 and FSA Regulation no. 5/2018
Notification shares buy-back: DIGI COMMUNICATIONS N.V. reports to the regulated market the transactions which occurred under the DIGI symbol, 6 – 10 Jan 2020
Berlin-based SuitePad named Best Places to Work in Hotel Tech 2020 category at HotelTechReport.com’s HotelTechAwards
Notification shares buy-back: DIGI COMMUNICATIONS N.V. reports to the regulated market the transactions which occurred under the DIGI symbol, 30 Dec 2019 – 3 Jan 2020
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