January 13, 2014
Johnson Controls Inc. has signed a definitive agreement to sell its automotive electronics business to Visteon Corp. for $265 million.
Glendale, Wis.-based JCI said the deal includes instrument cluster, infotainment, display, and body electronics products.
The sale will complete JCI’s divestiture of the automotive electronics business. The company previously sold the HomeLink product portion of its electronics portfolio to Gentex Corp.
“Visteon is a good strategic fit for the business and will provide the right level of commitment and the best long term value for our customers and employees,” said Alex Molinaroli, chairman and CEO of Johnson Controls, in a news release.
Visteon is based in the Detroit suburb Van Buren Township, Mich.