DUBLIN, Aptiv PLC (NYSE: APTV), a global technology company focused on making mobility safer, greener and more connected, has completed the acquisition of an 85% equity stake in Intercable Automotive Solutions from Intercable S.r.l. As an industry leader in high voltage power distribution and interconnect technology, Intercable Automotive Solutions will enhance Aptiv’s position as a global leader in vehicle architecture systems. The transaction is valued at €595 million, subject to customary post-closing adjustments, and is expected to be accretive to earnings per share starting in 2023.
"Intercable Automotive Solutions further strengthens our capabilities to design and deliver fully optimized high voltage architecture solutions that reduce vehicle weight, mass, and cost," said Kevin Clark, chairman and chief executive officer. "By leveraging Aptiv's global reach, Intercable Automotive Solutions will be able to expand its footprint and deliver innovative technologies to more customers worldwide. We are excited to welcome them to the Aptiv team."
Intercable Automotive Solutions will operate as a stand-alone business unit within Aptiv's Signal & Power Solutions segment and will continue to go to market under its current industry-leading brand.
Aptiv PLC is a global technology company that develops safer, greener and more connected solutions enabling a more sustainable future of mobility. With more than 190,000 employees strategically located to serve customers globally, Aptiv is solving the industry's toughest challenges with scalable, intelligent platforms that accelerate the transition to software-defined electric vehicles. To learn more about the company's unique brain and nervous system portfolio and its commitment to sustainability, visit aptiv.com.
This press release, as well as other statements made by Aptiv PLC (the "Company"), contain forward-looking statements that reflect, when made, the Company's current views with respect to current events, certain investments and acquisitions and financial performance including the potential impact of the acquisition of Intercable Automotive Solutions. Such forward-looking statements are subject to many risks, uncertainties and factors relating to the Company's operations and business environment, which may cause the actual results of the Company to be materially different from any future results. All statements that address future operating, financial or business performance or the Company's strategies or expectations are forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following: global and regional economic conditions, including conditions affecting the credit market; uncertainties posed by the COVID-19 pandemic and the difficulty in predicting its future course and its impact on the global economy and the Company's future operations; uncertainties created by the conflict between Ukraine and Russia, and its impacts to the European and global economies and our operations in each country; fluctuations in interest rates and foreign currency exchange rates; the cyclical nature of global automotive sales and production; the potential disruptions in the supply of and changes in the competitive environment for raw material and other components integral to the Company's products, including the current semiconductor supply shortage; the Company's ability to maintain contracts that are critical to its operations; potential changes to beneficial free trade laws and regulations such as the United States-Mexico-Canada Agreement; the ability of the Company to integrate and realize the expected benefits of recent transactions; the ability of the Company to attract, motivate and/or retain key executives; the ability of the Company to avoid or continue to operate during a strike, or partial work stoppage or slow down by any of its unionized employees or those of its principal customers; and the ability of the Company to attract and retain customers. Additional factors are discussed under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's filings with the Securities and Exchange Commission. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect the Company. It should be remembered that the price of the ordinary shares and any income from them can go down as well as up. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events and/or otherwise, except as may be required by law.