Battery maker Clarios said on Thursday it will acquire the battery unit of Paragon GmbH & Co. Paragon is KGaA’s power business and makes batteries and battery management systems for the motor industry.
Clarios CEO Mark Wallace said: “Paragon’s team has the skills, culture and commitment to add new capabilities that will accelerate our partnership with key OE customers, especially around advanced lithium-ion programmes.”
He said its engineering team’s expertise and leadership with projects with global OE customers complements the Clarios team’s current low-voltage and Li-ion programmes.
The acquisition significantly increases Clarios’ engineering team dedicated to the development of new low-voltage architectures, he said.
Federico Morales Zimmermann, vice president at Clarios, added the acquisition will help accelerate the electrification and digitalisation of new vehicles, to create new user experiences, exploit and capture data, and to power new systems-based architectures.
Financial details were not disclosed.
Separately, Clarios announced that Helmut Zodl will join the company’s leadership team as Chief Financial Officer from 1 September. Previously, he was CFO at GE Healthcare.
