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HELLA Announces Sale Of Front Camera Software Business Of HELLA Aglaia

HELLA GmbH & Co. KgaA (HLKHF) said the company is selling its business with front camera software of HELLA Aglaia including the related activities of HELLA Aglaia in testing and validation, to the Car.Software Organisation, a subsidiary of Volkswagen. The purchase price will lead to extraordinary income in the range of approximately 100 million euros.

HELLA GmbH & Co. noted that the transaction is still subject to approval by the relevant antitrust authorities and is expected to close in the first quarter of calendar year 2021. The deal affects about half of the employees at HELLA Aglaia.

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