DANA acquires Oerlikon Drive Systems (ODS; including Graziano, Fairfield, VOCIS and Ashwoods brands)

DANA acquired Oerlikon Drive Systems (ODS; including Graziano, Fairfield, VOCIS and Ashwoods brands) for $626 million paid at closing, a transaction completed in February 2019, structured as all cash (funded primarily through debt).

Oerlikon Drive Systems (ODS; including Graziano, Fairfield, VOCIS and Ashwoods brands) operates in Off-Highway, is based in Switzerland / global (key markets China, India, United States). The Drive Systems segment of the Oerlikon Group, a global manufacturer of high-precision gears, planetary hub drives for wheeled and tracked vehicles, and products, controls, and software that support vehicle electrification. The deal included the Graziano and Fairfield brands, the VOCIS electronic-controls business, and Ashwoods Electric Motors, adding four research-and-development facilities and 12 manufacturing facilities.

The acquisition of ODS is expected to deliver significant long-term value by accelerating our commitment to vehicle electrification and strengthening the technology portfolio for each of our end markets while further expanding and balancing the manufacturing presence of our off-highway business in key geographical markets.

Largest e-mobility acquisition; added high-precision gearing, electronic controls and electric motors across all end markets. Extends Dana's technology portfolio in high-precision helical gears and planetary hub drives; grows electronic-controls capability via VOCIS and motor technology via Ashwoods; adds four R&D facilities and 12 manufacturing facilities; optimizes global manufacturing presence in China, India and the United States. Off-Highway operating segment