Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



Gentex to Acquire Johnson Controls Unit

Watch stocks you care about

The single, easiest way to keep track of all the stocks that matter...

Your own personalized stock watchlist!

It's a 100% FREE Motley Fool service...

Click Here Now

Gentex (NASDAQ: GNTX  ) is accelerating its efforts in the vehicle-based remote control segment. The company announced it has signed a definitive agreement with car-parts supplier Johnson Controls (NYSE: JCI  ) to acquire the latter's HomeLink unit. This is described by Gentex as "a vehicle-based control system that enables drivers to remotely activate garage door openers, entry door locks, home lighting, security systems, entry gates, and other radio frequency convenience products." According to Gentex, it can function with nearly all automatic garage door openers.

The price of the deal is $700 million.

HomeLink's owner-to-be is very familiar with the system -- Gentex has been integrating it into its signature automatic-dimming rearview mirrors for over a decade. The company estimates that, once fully integrated, HomeLink will contribute $125 million-$150 million in annual revenue.

The transaction is subject to approval from the relevant regulators. Gentex expects it to close "on or about" September 30 of this year.

Read/Post Comments (0) | Recommend This Article (2)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2545819, ~/Articles/ArticleHandler.aspx, 5/24/2016 11:21:13 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Eric Volkman

Eric has been writing about stocks and finance since the mid-1990s, when he lived in Prague, Czech Republic. Over the course of a varied career, he has also been a radio newscaster, an investment banker, and a bass player in a selection of rock and roll bands. A native New Yorker, he currently lives in Los Angeles.

Today's Market

updated 2 hours ago Sponsored by:
DOW 17,706.05 213.12 1.22%
S&P 500 2,076.06 28.02 1.37%
NASD 4,861.06 95.27 2.00%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

5/24/2016 4:00 PM
GNTX $15.73 Up +0.15 +0.96%
Gentex CAPS Rating: *****
JCI $43.88 Up +1.14 +2.67%
Johnson Controls,… CAPS Rating: *****