Japan's Nidec to buy Omron's automotive electronics unit for $900 mln

OMRON

16/04/2019 08:22

TOKYO, April 16 (Reuters) - Japan's Nidec Corp  6594.T  said
on Tuesday it would buy Omron Corp's  6645.T  automotive
electronics unit for about 100 billion yen ($893.50 million) as
the precision motor maker accelerates its push into autonomous
driving.
    The deal is part of Nidec's drive to double sales of the
automotive business to 600 billion yen by the year ending March,
2021.
    Omron's unit, Omron Automotive Electronics Co, has strengths
in electronics devices for body control and motor control
systems, as well as laser radar and driver monitoring systems.
    The acquisition, to be closed by the end of October, would
allow Nidec to provide a full spectrum of sensors required for
autonomous driving, the company said in a statement.
    Nidec has also been expanding into traction motors, the most
important element of an electric vehicle's powertrain. It has
formed a joint venture with Peugeot carmaker PSA Group to
produce traction motors.  urn:newsml:reuters.com:*:nL3N1VF2JG

($1 = 111.9200 yen)

 (Reporting by Makiko Yamazaki; Editing by Rashmi Aich)
 ((Makiko.Yamazaki@thomsonreuters.com; 81-3-6441-1039;))