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HELLA GmbH & Co. KGaA: HELLA completes sale of front camera software business.

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DGAP-News: HELLA GmbH & Co. KGaA / Key word(s): Disposal/Disposal
02.02.2021 / 09:34
The issuer is solely responsible for the content of this announcement.

HELLA successfully completes sale of activities in the front camera software business

Disposal is based on stringent portfolio management; large investments in automated driving to continue unchanged

Lippstadt/Berlin, 2 February 2021. The global automotive supplier HELLA has successfully completed the sale (closing) of the front camera software business, which is based at the Berlin subsidiary HELLA Aglaia, including the associated testing and validation area. Following approval by the relevant antitrust authorities and the fulfilment of further contractual conditions, the business has been transferred to the Volkswagen Group's Car.Software Organisation with effect from 1 February 2021. HELLA is generating around € 120 million in pre-tax income from the transaction.

HELLA CEO Dr. Rolf Breidenbach said on the occasion of the closing: "My special thanks go to all employees in the front camera software business for our journey together and their outstanding commitment over the years. We are pleased that we have now been able to successfully conclude the sale process and that, with the Car.Software Organisation, we have found what we consider to be an optimal company to further develop the activities."

The sale of the front camera software business was based on stringent portfolio management. Accordingly, HELLA would have had to make extraordinarily large investments combined with a large entrepreneurial risk in order to achieve the internal targets in this area. Regardless of the transaction, HELLA will continue to invest intensively in key technologies for automated driving, especially in the areas of radar sensor technology and steering electronics. At the same time, the remaining activities at HELLA Aglaia in the areas of energy management, lighting control and people sensing will continue consistently and the subsidiary will be further strengthened by being responsible for HELLA's Global Software House, which was founded last year.

Please note:
This text and corresponding photo material can also be found in our press database at:
www.hella.com/press

HELLA GmbH & Co. KGaA, Lippstadt: HELLA is a global, family-owned company, listed on the stock exchange, with over 125 locations in some 35 countries. With sales of € 5.8 billion in the fiscal year 2019/2020 and 36,000 employees, HELLA is one of the leading automotive suppliers. HELLA specialises in innovative lighting systems and vehicle electronics and has been an important partner to the automotive industry and aftermarket for more than a century. Furthermore, in its Special Applications segment, HELLA develops, manufactures and sells lighting and electronic products for specialist vehicles.

For more information, please contact:
Dr. Markus Richter
Company spokesman
HELLA GmbH & Co. KGaA
Rixbecker Strasse 75
59552 Lippstadt
Germany
Phone: +49 (0)2941 38-7545
Fax: +49 (0)2941 38-477545
Markus.Richter@hella.com
www.hella.com


02.02.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language:

English

Company:

HELLA GmbH & Co. KGaA

Rixbecker Str. 75

59552 Lippstadt

Germany

Phone:

+49 (0)2941 38-7125

Fax:

+49 (0)2941 38-6647

E-mail:

Investor.Relations@hella.com

Internet:

www.hella.de/ir

ISIN:

DE000A13SX22

WKN:

A13SX2

Indices:

MDAX

Listed:

Regulated Market in Frankfurt (Prime Standard), Munich, Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Tradegate Exchange; Luxembourg Stock Exchange

EQS News ID:

1165041


 

End of News

DGAP News Service

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