Siemens VDO
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Siemens VDO (Vereinigte DEUTA (Deutsche Tachometerwerke GmbH) OTA (OTA Apparate GmbH)), is a manufacturer of information and cockpit systems, navigation, telematics, communication and audio systems, and control and fuel systems.
The company was founded by Adolf Schindling at the end of the 1920s in Frankfurt, Germany by joining DEUTA and OTA. The company made speedometers and instrument clusters for passenger cars and commercial vehicles.
In 1991 the company was bought by Mannesmann. In 1999 Mannesmann was itself bought by Vodafone and VDO was put up for sale. In 2000 the company was bought by Siemens AG Automotive and the companies merged under the name Siemens VDO.
Siemens VDO is a leading international supplier of automotive electronics and mechatronics which manufactures products relating to the drivetrain, engine management electronics and fuel injection, which are designed to simultaneously improve engine performance and reduce emissions.
On 25 July 2007, Continental AG announced its offer to purchase Siemens VDO for €11.4 billion ($15.6 billion). The decision was approved by the Siemens Supervisory Board. On 3 December 2007, Continental AG took over Siemens VDO Automotive AG. Continental eventually paid $16.7 billion for the automotive unit of Germany-based Siemens AG. The acquisition nearly doubles the size of Continental, making it the world's fifth largest automotive supplier.[1]
[edit] References
- ^ DAY 1 for global supplier deal. Retrieved on 2007-12-06.
