Based in Vancouver, British Columbia, SmarTire is a developer and marketer of advanced tire-monitoring solutions, plus wireless sensing and control systems for commercial vehicles.
The transaction terms are expected to be finalized during the fourth quarter of 2008 and are subject to corporate approvals from both entities. When finalized, Bendix plans to incorporate the SmarTire business into its existing electronics business unit, which also includes technologies such as the Bendix ESP Electronic Stability Program and Bendix Adaptive Cruise Control.
"Bendix continues on its purposeful, aggressive drive for growth. Our goal remains to actively pursue business opportunities and effective technologies that help improve highway safety, enhance vehicle operation, and help fleets manage and improve operating cost margins," said Joe McAleese, Bendix president and CEO.