Gleiss Lutz advises Mitsubishi Electric on the sale of its shares in Sapcorda Services
A Gleiss Lutz team has advised Mitsubishi Electric, one of the leading electronics and electrical engineering companies, on the sale of its shares in Sapcorda Services to the Swiss company u-blox. The parties have agreed not to disclose the purchase price.
Sapcorda Services was founded in 2017 as a joint venture by Mitsubishi Electric, u-blox, the Bosch Group and Geo++ and provides high-precision global navigation and positioning applications via GNSS (Global Navigation Satellite System) for industrial, automotive and consumer applications. For example, in the automotive sector, applications include automated driving and Advanced Driver Assistance Systems (ADAS), lane-precise navigation, telematics and Vehic-le-to-Everything (V2X) communication.
Mitsubishi Electric is one of the leading global manufacturers of electrical and electronic equipment and systems. The Swiss company u-blox is known worldwide for its semiconductor components and modules for wireless communication and positioning in the automotive sector.
The following Gleiss Lutz team advised Mitsubishi Electric on the transaction: Dr. Michael Burian (Frankfurt, partner, lead), Dr. Christopher Vogl (Stuttgart), Josefine Wiegand (Hamburg, all M&A).
Gleiss Lutz already advised Mitsubishi Electric on the establishment of the joint venture in 2017. The firm has a leading Japan practice and regularly advises Japanese companies on M&A transactions, including NEC Corporation on the acquisition of Avaloq and Mitsubishi Chemical on the acquisition of Gelest in 2020.