BorgWarner has acquired Switzerland-based Drivetek which offers engineering and product development services for inverters, electric drive solutions, and power electronics as well as a line of products that include specialised inverters for high-speed electrified turbomachinery.
The transaction is valued at CHF 35 million (Rs 301 crore), of which CHG 25 million (Rs 215 crore) was delivered at closing. An additional CHF 10 million (Rs 86 crore) could be paid in the form of contingent payments over the next 3 years.
Drivetek’s competencies include design and development of power electronics and electrical machines, system engineering, and control software. It supports customers in the automotive and transportation industry as well as in the aviation, industrial and energy sectors.
Frederic Lissalde, President and CEO, BorgWarner said, “Drivetek is an important partner with BorgWarner on our booked eFan business, with our first customer award being announced in February of this year. Bringing Drivetek’s talented team in house is an investment that grows our power electronics capabilities in auxiliary inverters, which we expect to accelerate the growth of our High Voltage eFan business. We welcome the team to BorgWarner.”