Robert Bosch to buy Johnson Controls assets in US$8bil deal

Bosch said the addition would strengthen its presence in the United States and Asia. — Reuters

BERLIN: Robert Bosch has agreed to acquire Johnson Controls’ and Hitachi’s residential ventilation businesses for US$8bil, it says in what will be the German engineering group’s largest takeover to date.

Bosch said Johnson’s heating, ventilation and air conditioning (HVAC) business for residential and small commercial applications would strengthen its Bosch Home Comfort arm, boosting the division’s sales to €9bil (US$9.8bil) from €5bil currently.