04 Jun '18, 4pm

Webasto to Acquire AeroVironment Electric Vehicle Charging and Test Systems Business. Learn more:

Automotive system supplier strengthens global electric charging footprint with additional competence Stockdorf/Munich (Ger.) / Monrovia, Calif., June 4, 2018 – Webasto Group, one of the 100 leading suppliers to the automotive industry worldwide, and AeroVironment (NASDAQ: AVAV), a leader in unmanned aircraft systems (UAS) for both defense and commercial applications and tactical missile systems (TMS), announced Webasto’s agreement to acquire AeroVironment’s Efficient Energy Systems (EES) business segment for $35 million, subject to customary post-closing adjustments and indemnification agreements. Webasto will retain all existing EES employees, while strengthening its longterm E-mobility strategy. “This strategic acquisition accelerates the global development of our charging business,” said Holger Engelmann, chairman of the management board, Webasto SE. “Combining EES’ fun...

Full article: http://www.avinc.com/resources/press-releases/view/webast...

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