Hyundai Mobis, the 7th largest leading automotive supplier, announced that the board of directors approved the acquisition of the semiconductor division of Hyundai Autron.
Upon receiving the approval, Hyundai Mobis and Hyundai Autron signed a contract to transfer all related employees and assets. The acquisition cost was $122 million.
With this acquisition, Hyundai Mobis plans to develop the capability of designing, developing and verifying semiconductors for vehicles and subsequently differentiate its integrated control technology in the future automotive field.
Hyundai Mobis also plans to shift its focus on developing system semiconductors, power semiconductors and high-performance semiconductors with enhanced development capability in automotive semiconductors.
In the long run, Hyundai Mobis will be able to strengthen its HW/SW technology and semiconductor development capability and differentiate itself and its technological prowess in the future automotive field, the statement said.
Founded in 1977 and is headquartered in Seoul, Korea, Hyundai Mobis currently has more than 30,000 employees and has been manufacturing in more than 30 regions in 10 countries. In addition to its R&D headquarters in Korea, Mobis has 4 technology centers in Germany, China, India and the United States.
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