Bosch to acquire SPX Service Solutions business

The Bosch Automotive Aftermarket division has planned to acquire the Services Solutions business of SPX Corporation of SPX Corporation. The Services Solutions wing of SPX Corporation develops, manufactures and sells vehicle diagnostic tools, service tools, workshop equipment and software for the global automotive market. 

The SPX Services Solutions business employees 2700 across 17 countries and is expected to generate $920 million in the 2011-2012 financial year. This means that the particular transaction worth $1.15 million is going to be the largest in the Automotive Aftermarket Division. The deal is expected to close within the first half of 2012. 

“Acquiring SPX Service Solutions will help make Bosch one of the leading providers of diagnostic solutions. The acquisition will allow us to considerably expand our market presence in the diagnostics business, particularly in North America. In addition, we will strengthen our position in Asia Pacific and Europe, especially in our diagnostics business with automakers,” said Robert Hanser, President of Bosch’s Automotive Aftermarket division. 

SPX Service Solutions includes vehicle repair solutions, special repair service tools, vehicle diagnostic service tools and software. SPX deals in equipment used by automobile OEMs in their service centres. SPX also offers technical information and training programs to the automobile service industry. SPX Service Solution deals across the board in the automobile service industry applications, such as passenger vehicles, light commercial vehicles, heavy-duty trucks, agricultural machinery and off-highway applications. 

The acquisition will give Bosch GmbH added impetus to strengthen their position in the automobile and industrial service industry.