The Bosch Automotive Aftermarket division will acquire the Service Solutions business of SPX Corp. for $1.15 billion.
SPX Service Solutions develops, manufactures and sells diagnostic and service tools, workshop equipment, and software for the global automotive aftermarket. It employs some 2,700 associates in 17 countries, primarily in the U.S., Germany, France, and China. For 2011, the business, based in Warren, Mich., is expected to generate sales of approximately $920 million.
The transaction is expected to close during the first half of 2012.
"Acquiring SPX Service Solutions will help make Bosch one of the leading providers of diagnostic solutions," says Robert Hanser, president of the Automotive Aftermarket division. "The acquisition will allow us to considerably expand our market presence in the diagnostics business, particularly in North America. In addition, we will strengthen our position in Asia Pacific and Europe, especially in our diagnostics business with automakers."
SPX Service Solutions develops, manufactures and sells diagnostic and service tools, workshop equipment, and software for the global automotive aftermarket. It employs some 2,700 associates in 17 countries, primarily in the U.S., Germany, France, and China. For 2011, the business, based in Warren, Mich., is expected to generate sales of approximately $920 million.
The transaction is expected to close during the first half of 2012.
"Acquiring SPX Service Solutions will help make Bosch one of the leading providers of diagnostic solutions," says Robert Hanser, president of the Automotive Aftermarket division. "The acquisition will allow us to considerably expand our market presence in the diagnostics business, particularly in North America. In addition, we will strengthen our position in Asia Pacific and Europe, especially in our diagnostics business with automakers."
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