Industrial components giant Nidec has agreed to acquire Omron’s automotive business, formally called “Omron Automotive Electronics”.
The two companies do not appear to have released the financial details of the agreement, but Nikkei is reporting that Nidec will pay $890 million for the company.
The share transfer will be executed after obtaining necessary approval and satisfying other conditions. It is projected to occur by the end of October. [Read more…] about Nidec to buy Omron’s automotive business for $890 million