Molex Electronic Technologies is set to acquire the Connected Vehicle Solutions (CVS) division of Laird Limited, owned by funds managed by Advent International. Laird CVS specializes in the design, development and delivery of vehicle antenna systems, smart device integration and vehicle connectivity devices.
These solutions will enhance Molex’s capabilities and support the development of agile connected vehicle technology ecosystems featuring the innovative 10Gbps Ethernet backbone for automotive OEMs building next-generation, intelligent vehicles.
There is tremendous demand for seamless end-to-end network integration across hardware, software and services in the automotive industry, and according to Molex, Laird CVS will thus expand their geographic reach and strengthen ability to support automotive OEMs seeking to introduce future-ready vehicles with critical functionality while still containing costs.
Laird’s world-class expertise and custom-engineered solutions enable customers to transform vehicle connectivity across the globe, making the company a trusted partner to the world’s leading automotive OEMs.
Jones Day acted as Molex’s legal advisor and Evercore served as financial advisor. For Advent, Weil Gotschal acted as legal advisor and Goldman Sachs and Citibank as financial advisors. Financial terms of the transaction were not disclosed. The transaction is subject to customary regulatory clearances.
