ZF say that the acquisition is part of its ‘Next Generation Mobility’ strategy, and has highlighted an interest in developing automated driving functions in commercial vehicles such as trucks and trailers. It is the first time that ZF has expanded into commercial vehicle braking systems.
Wolf-Henning Scheider, CEO of ZF, said: “For ZF the acquisition of a specialist and leader for commercial vehicle braking systems means adding a stable and growing business segment and enables our existing commercial vehicles division to expand its expertise in vehicle dynamics control.”
Meanwhile, Jacques Esculier, Chairman and CEO of Wabco, said: “Joining forces with high respected ZF will create a leading global technology company well positioned to capitalise on future demand for autonomous, efficient and connected commercial vehicles.”
Wabco products and services include braking systems, stability control, aerodynamics, telematics and more. The company generated revenues of €3.3 billion in 2018 and employs around 16,000 employees in 40 countries. ZF expects to close the transaction of Wabco by the start of 2020.