Desay SV Automotive is a worldwide leading player for the intelligent automotive cabin, providing electronic solutions and services for intelligent driving and Internet of Vehicle technologies. The company is headquartered in Huizhou, China, and has long-standing relationships with major OEM customers worldwide including Volkswagen Group, Mazda, Geely Auto, Great Wall Motors, FAW Group. Desay SV Automotive went public the end of 2017 with a market capitalization of € 2.1bn. The company had generated € 783m of revenues in 2017.

Antennentechnik ABB Bad Blankenburg GmbH develops, manufactures and sells high-performance antenna systems. The company has a more than 75-year history and thanks to high research expenditures and investments has consistently moved towards the smart antenna architecture with increasing electronics and software parts.

The acquisition of Antennentechnik ABB Bad Blankenburg GmbH offers Desay SV Automotive an excellent opportunity to broaden its product range and to develop smart antennas, a key technology for future mobile communications, secure data exchange and connected mobility.

CL Tan, Chairman of Desay SV Automotive stated:

“Steen Associates was a valuable adviser during the entire process, from identifying the target throughout the due diligence and negotiating the SPA.  Their industry knowledge, commitment and transaction experience were critical to secure the acquisition of ABB Bad Blankenburg. The acquisition will enable us to generate advanced solutions in high performing intelligent antennas to serve our customers with leading and cutting-edge technologies in the area of wireless connectivity”

The proposed transaction remains subject to certain regulatory approvals from the German government.