Troy-based Valeo Acquires German Connectivity Services Supplier

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The French automotive supplier Valeo, with North American headquarters in Troy, has acquired Peiker, a German supplier of telematics and connectivity services. Terms of the agreement were not announced.

“Peiker’s portfolio of technologies, products, and services is perfectly aligned with our vision of driving for the autonomous, connected, and intuitive car of the future,” says Jacques Aschenbroich, CEO of Valeo. “The acquisition also reinforces Valeo’s presence in Germany by integrating into our company 700 local employees, including 150 highly skilled engineers.”

Aschenbroich says the acquisition will allow Valeo to offer automakers new telematics systems equipped with high-speed connectivity and cybersecurity features, including vehicle-to-vehicle and vehicle-to-infrastructure communication technologies, and will be compatible with LTE Advanced mobile Internet services.

Valeo is also developing a range of technology systems using ultrasonic sensors, radars, cameras, laser scanners, and software to make vehicles more energy efficient and safer.

Valeo has 135 plants, 16 research centers, 35 development centers, and 15 distribution platforms. The company employs nearly 83,000 employees in 30 countries. Peiker, founded in 1946, has about 1,000 employees along with an engineering center in Troy. 

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