AUO Corporation Expands Smart Mobility Business with Acquisition of Behr-Hella Thermocontrol GmbH

AUO Corporation, a leading technology-driven company, has announced its acquisition of Behr-Hella Thermocontrol GmbH (BHTC), a German company specializing in Human Machine Interfaces (HMI), Climate Control (CC), and Electronic Control Units (ECU) for the automotive industry. The acquisition, valued at €600 million, is part of AUO’s biaxial transformation strategy to expand its applications in vertical markets and establish a smart mobility ecosystem.

With over 20 years of experience in automotive display technology, AUO has become a trusted component supplier in the industry. As the global market for electric vehicles and autonomous vehicles continues to grow, display applications play a crucial role in enhancing the cockpit experience. AUO aims to leverage its expertise in human-machine interface integration to provide innovative smart cockpit solutions and become a leader in the future of smart mobility services.

BHTC, a joint venture of MAHLE Behr GmbH & Co. KG and HELLA GmbH & Co. KGaA, brings world-leading resources and development capabilities to the table. The company has strong collaborations with international automotive OEMs and is well-positioned in the rapidly evolving HMI market. The acquisition of BHTC allows AUO to broaden its product portfolio and customer base, transforming from a panel maker to a technology solutions provider across multiple verticals.

Paul Peng, Chairman and Group Chief Strategy Officer of AUO, highlighted the complementary synergies between AUO and BHTC. By leveraging both companies’ global operations, local manufacturing facilities, and research teams, AUO aims to accelerate the interconnection of the automotive industry’s supply and value chains. This integration will enable AUO to provide diverse and innovative solutions to global customers and partners.

The acquisition, subject to customary antitrust and regulatory approvals, is expected to close by mid-2024. AUO will finance the transaction using its internal cash resources. Morgan Stanley acted as the exclusive financial advisor to AUO Corporation for this acquisition.

The expansion of AUO’s smart mobility business through the acquisition of BHTC signifies the company’s commitment to its globalization and development strategy. By integrating resources and generating synergies, AUO aims to achieve sustainable growth and create long-term value for its shareholders.