BOSCH BUYS SPX SERVICE SOLUTIONS

Bosch Automotive Aftermarket is in the final stages of buying a specialist tools developer in the US for $1.15 billion.

SPX Corporation, based in Michigan manufactures and sells diagnostic and service tools, workshop equipment and software for the automotive aftermarket.

The purchase is the largest in the history of the Bosch Automotive Aftermarket division.

Bosch hopes that the acquisition of SPX Service Solutions will make it one of the leading providers of diagnostic solutions in the global aftermarket.

Although it is still subject to normal closing conditions and approval from the authorities, the sale is expected to be completed within the next few months.

President of the Bosch Automotive Aftermarket Division Robert Hanser said: “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.”