Autoliv Inc., a manufacturer of automotive safety systems, reported April 9 that it had agreed to acquire Delphis Pyrotechnic Safety Switch assets in Europe. The assets are expected to generate nearly $10 million in annualized sales in 2010.
Pyrotechnic safety switches, or battery disconnects, are activated by airbag deployment and cut the battery from the vehicle starter and alternator, thus reducing the likelihood of a fire.
The transaction includes both intellectual property and physical assets, according to Autoliv.
This acquisition supplements our efforts to grow in the passive safety market and in particular supports our focus on improving safety in vehicles using not only traditional combustible engines but alternative fuel technologies such as hybrids or batteries, stated Jan Carlson, president and CEO of Autoliv, in the news announcement.
The transaction is expected to close by April 30 and is subject to normal closing conditions.