BorgWarner has announced that it has acquired Drivetek AG for an enterprise value of up to CHF 35 million ($37.43 million), of which CHF 25 million ($26.73 million) was delivered at closing.
A press release from the company said that an additional CHF 10 million ($10.69 million) could be paid in the form of contingent payments over the next three years.
Drivetek 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. Its competencies include designing and developing power electronics and electrical machines, system engineering, and control software. Drivetek supports customers in the automotive and transportation industries and the aviation, industrial and energy sectors.
Frédéric Lissalde, President and CEO, BorgWarner, noted that bringing Drivetek’s talented team in-house is an investment that grows the company’s power electronics capabilities in auxiliary inverters, which we expect to accelerate the growth of our high-voltage eFan business.
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