AUO acquires Bulgaria-active BHTC to drive smart mobility expansion

The deal bolsters both companies' resource allocation and creates synergy across products, customers and operation deployment, AUO said in a statement on Tuesday.

Amid the rapidly developing automotive industry, AUO is transforming from a display supplier to a comprehensive smart mobility solutions provider, actively building global industry clusters and meeting the local demands of automakers, the company said.

The acquisition will also diversify AUO's product range and enhance its geographical portfolio, which is expected to boost automotive revenue share and drive growth in vertical domains.

BHTC has subsidiaries in Germany, the U.S., China, India, Japan, Bulgaria, Mexico and Finland, along with advanced research and development and engineering services in Europe and India. These, coupled with AUO's presence in the Asian and North American markets, will support localised production, facilitating collaborative development with automakers and streamlining the automotive homologation compliance process.

Additionally, the Taiwanese company seeks to redefine smart cockpit design, enhance human-machine interaction services and offer a broader and more sustainable technology product mix by integrating BHTC's automotive human-machine interfaces and climate control systems.

"Our joint efforts will expedite the connection of automotive industry supply and value chains worldwide, allowing us to seize market opportunities with strategic foresight and enhance our position in the smart mobility ecosystem," AUO president and CEO Frank Ko said.

Founded in 1996, AUO operates across Asia, the U.S. and Europe, with a global team of 38,000 people, its website shows.

Last May, the economy ministry in Sofia said BHTC Bulgaria plans to start construction of a new plant in the country in 2024, which is expected to be completed by 2028. The company has an existing production base in Industrial Zone Sofia-Bozhurishte.

($ = 0.9303 euro)