Europe News: Valeo acquires Connaught Electronics
Valeo has completed the acquisition of Connaught Electronics, a transaction that strengthens Valeo’s Driving Assistance domain through the extension of its line of camera-based vision solutions for low-speed manoeuvring.
Headquartered in Tuam near Galway in Ireland, Connaught Electronics is a private company that develops and produces automotive electronic components, particularly camera applications for driving assistance functions and radio frequency applications for remote vehicle access and security.
The company has two facilities in Tuam in Ireland and Humpolec in the Czech Republic.
The Valeo Group designs, produces and sells components, integrated systems and modules for cars and trucks. The Group operates in 29 countries, with 133 production sites, 67 R&D centres, and 9 distribution platforms.
"This acquisition is fully in line with our strategy to strengthen our product portfolio in the three domains of Driving Assistance, Powertrain Efficiency and Comfort Enhancement," said Thierry Morin, Valeo chairman & CEO.
