BorgWarner to acquire the Bern-based Drivetek AG
08 December 2022 12:44
BorgWarner is investing up to 35 million Swiss francs to acquire Drivetek, a company founded in Brügg in the canton of Bern in 2016. According to a press release issued by BorgWarner, a sum of 25 million Swiss francs has already been paid out, with an additional 10 million Swiss francs potentially due in the form of contingent payments over the next three years.
Drivetek boasts expertise in several fields, ranging from the design and development of power electronics and electrical machines to systems technology and control software. The company’s client base operates in areas such as the automotive, transport, aerospace, manufacturing and energy sectors. Drivetek offers engineering and product development services for inverters, electrical drive solutions and power electronics, while its portfolio also extends to a product line that includes special inverters for high-speed electrified turbomachines.
With annual sales of around 15 billion US dollars, BorgWarner ranks among the 25 largest automotive suppliers in the world. The company employs more than 49,000 staff at 93 locations across 22 countries worldwide.
“Drivetek is an important partner with BorgWarner on our booked eFan business”, comments Frédéric Lissalde, President and CEO of BorgWarner, in the press release. “Bringing Drivetek’s talented team in house is an investment that grows our power electronics capabilities in auxiliary inverters, which we expect to accelerate the growth of our High Voltage eFan business”, he concludes.