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Blaupunkt Sold To Aurelius

12/18/2008 03:39:00 PM Eastern

Hildesheim, Germany — Bosch, the parent of car stereo company Blaupunkt USA, said the division has been sold to the Aurelius Group, a German holding company, that specializes in the acquisition of medium-sized companies in the midst of restructuring. The purchase price was not disclosed.

Under the agreement, signed Dec. 17, Blaupunkt’s aftermarket and audio components business will become an independent company, while Bosch will continue to produce OEM car electronics.

The new company will retain the Blaupunkt name and will continue to be located here in Germany.

Dr. Dirk Markus, chairman of the directors of Aurelius, said, “We believe that the business we have acquired is sound, with significant potential for future development.” Blaupunkt will continue to focus on car infotainment, said the company.

Bosch said it had been looking for a

potential partner

for Blaupunkt since the spring, as the company planned to expand into the new style of OEM radios for new cars. OEM radios used to be similar to consumer (aftermarket) car radios, but now have changed to stealth receivers buried in the dash that are linked to other car functions. Bosch said as it shifted over to the newer model of OEM products, it no longer had the resources to support both OEM and aftermarket radio technologies.

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