According to reports, Panasonic plans to acquire ZKW, a European automotive lighting company, to improve Panasonic's performance in the automotive electronics industry.
The two companies have entered the final stage of negotiations, and the basic agreement is expected to be finalized in mid-December. The entire acquisition is expected to cost about 100 billion yen ($885 million).
ZKW's flagship product is an energy-efficient LED headlight for long-distance lighting. The company, founded in 1938, employs 7,500 people worldwide and has R&D and production facilities in Europe, the United States, China, and India. ZKW products supply leading Western automakers such as General Motors, with 2016 sales expected to reach 900 million euros ($960 million).
Japan's Otaru Manufacturing Co., Ltd. and France's Valeo Group have a combined market share of nearly 50% in the global headlight market, while ZKW's market share is about 5%. Headlight technology is rapidly changing due to advances in autonomous vehicles, allowing for safe driving by adjusting the brightness and direction of the lights. Panasonic has a large technical reserve in terms of sensors, which can be combined with ZKW's advantages in lighting technology to develop new image recognition technology to compete with the two giants in the headlight industry.
Panasonic's automotive division is primarily engaged in car navigation systems and automotive battery business. The automotive industry is undergoing tremendous changes as products from different industries are used in automotive products. Information technology and electronics companies have gradually become leaders in this great change. South Korea’s Samsung Electronics announced last month that it will acquire Harman International in the United States for $8 billion. Siemens in Germany has established a joint venture with Valeo to develop the powertrain for electric vehicles. At the same time, Google tried to develop autonomous vehicles by acquiring robotics companies.
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