Delphi Automotive PLC has signed a definitive agreement to acquire Antaya Technologies Corp., a leading provider of proprietary on-glass connectors, enhancing the company's portfolio in the rapidly growing automotive electrical connectors business.
Antaya is the largest manufacturer of on-glass connectors for the automotive glass industry in North America, with a growing customer base in China and Europe. Antaya also supplies lead-free connectors, another area of growth, as global automakers seek more lead-free content in their vehicles.
"Antaya is an excellent strategic fit with Delphi, as it adds an important new connector technology to our already strong electrical connectors business," said Rodney O'Neal, Delphi chief executive officer and president. "Antaya's products expand Delphi's electrical/electronic architecture portfolio into glass applications, adding new customers and driving additional electronic content per vehicle. This transaction is consistent with our strategy to allocate capital to growth opportunities that enhance Delphi's leadership position in automotive connectors."
Antaya provides a broad range of on-glass products including power terminals, antenna assemblies, keyless entry and tire pressure monitoring, and other custom connector assemblies for automotive electronics.
"Joining Delphi is an exciting opportunity to expand our business and accelerate our growth," said John Pereira, Antaya chief executive officer and president. "Delphi gives us the opportunity to further leverage our global footprint. Importantly, the transaction will significantly strengthen our position in the automotive industry and allow us to provide a higher level of service and support to our customers."
The transaction is expected to close in the fourth quarter of 2014 subject to receipt of regulatory approvals. Terms of the transaction were not disclosed.