Delphi Signs Definitive Agreement to AcquireAntaya Technologies Corp.
Delphi Automotive PLC (NYSE:DLPH) has signed a definitive agreement to acquire Antaya Technologies Corp. (“Antaya”), a leading provider of proprietary on-glass connectors, enhancing the company’s portfolio in the rapidly growing automotive electrical connectors business.
Antaya is the largest manufacturer of on-glass connectors for the automotive glass industry in North America, with a growing customer base in China and Europe. Antaya also supplies lead-free connectors, another area of growth, as global automakers seek more lead-free content in their vehicles.
“Antaya is an excellent strategic fit with Delphi, as it adds an important new connector technology to our already strong electrical connectors business,” said Rodney O’Neal, Delphi chief executive officer and president. “Antaya’s products expand Delphi’s electrical/electronic architecture portfolio into glass applications, adding new customers and driving additional electronic content per vehicle. This transaction is consistent with our strategy to allocate capital to growth opportunities that enhance Delphi’s leadership position in automotive connectors.”
Antaya provides a broad range of on-glass products including power terminals, antenna assemblies, keyless entry and tire pressure monitoring, and other custom connector assemblies for automotive electronics.
“Joining Delphi is an exciting opportunity to expand our business and accelerate our growth,” said John Pereira, Antaya chief executive officer and president. “Delphi gives us the opportunity to further leverage our global footprint. Importantly, the transaction will significantly strengthen our position in the automotive industry and allow us to provide a higher level of service and support to our customers.”
The transaction is expected to close in the fourth quarter of 2014 subject to receipt of regulatory approvals. Terms of the transaction were not disclosed.
Delphi Automotive (NYSE:DLPH) is a leading global supplier of technologies for the automotive and commercial vehicle markets. Headquartered in Gillingham, England, Delphi operates major technical centers, manufacturing sites and customer support services in 32 countries, with regional headquarters in Bascharage, Luxembourg; Sao Paulo, Brazil; Shanghai, China and Troy, Michigan, U.S. Delphi delivers innovation for the real world with technologies that make cars and trucks safer as well as more powerful, efficient and connected. Visit www.delphi.com
Antaya Technologies Corp. is a market leading designer and supplier of on-glass connectors primarily for the global automotive industry. Headquartered in Cranston, Rhode Island, Antaya operates three facilities in Rhode Island and an assembly facility in Zhuhai, China. The company’s products are used to provide power for heated rear windows and front windshields and signal related parts for AM/FM antenna, anti-theft modules, remote keyless entry and other applications. It also supplies connectors for power heated sliders, door harnesses, sunroof assemblies, breakage sensors and camera heat grid connectors. Antaya serves all of the key automotive glass suppliers worldwide. Visit www.antaya.com for additional information.
This press release, as well as other statements made by Delphi Automotive PLC (the “Company”), contain forward-looking statements that reflect, when made, the Company’s current views with respect to current events and financial performance. Such forward-looking statements are subject to many risks, uncertainties and factors relating to the Company’s operations and business environment, which may cause the actual results of the Company to be materially different from any future results. All statements that address future operating, financial or business performance or the Company’s strategies or expectations are forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements are discussed under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s filings with the Securities and Exchange Commission. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect the Company. It should be remembered that the price of the ordinary shares and any income from them can go down as well as up. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events and/or otherwise, except as may be required by law.
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