BorgWarner acquires Drivetek AG for EV CHF 35M

BorgWarner announced that it has acquired Drivetek AG. Headquartered in Switzerland, Drivetek offers engineering and product development services for inverters, electric drive solutions, and power electronics as well as a line of products that include specialized inverters for high-speed electrified turbomachinery. Their competencies include design and development of power electronics and electrical machines, system engineering, and control software. Drivetek supports customers in the automotive and transportation industry as well as in the aviation, industrial and energy sectors. The transaction has an enterprise value of up to CHF 35M, of which CHF 25M was delivered at closing. An additional CHF 10M could be paid in the form of contingent payments over the next 3 years.