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Repair common Windows errors and clear accumulated junk for a smoother, more stable PC - no reinstall needed.Free scan · no reinstallContinental completed its acquisition of Siemens VDO Automotive AG on December 3, 2007, after the responsible antitrust authorities approved the deal without conditions. Continental had announced the acquisition on July 25, 2007.
What Continental acquired and when
Continental’s July 25, 2007 announcement said it would acquire the automotive products business concentrated in Siemens VDO Automotive AG from Siemens AG. Continental’s 2007 annual report says Continental AG and a subsidiary agreed to acquire 100% of Siemens VDO Automotive AG’s shares and its subsidiaries.
The transaction closed on December 3, 2007, following unconditional approval by the responsible antitrust authorities. Continental had expected completion toward the end of the fourth quarter. Continental’s July 25 announcement and its 2007 annual report document the announcement and completion.
Why reported deal values differ
The figures in Continental’s documents describe different amounts and accounting bases; they are not competing estimates of one identical payment.
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| Figure | What it describes | Source and basis |
|---|---|---|
| €11.4 billion | Announced transaction price, including approximately €1 billion in future tax benefits | Continental’s 2007 announcement |
| €11.3 billion | Purchase price including transaction costs | Continental’s 2007 annual report, published in 2008 |
| €12.3 billion | Total payment, including Siemens VDO’s €1.0 billion accumulated financing requirement through the completion date; the report allocates €6.9 billion to shares and €5.4 billion to receivables | Continental’s 2007 annual report, published in 2008 |
Continental’s July 2007 announcement also described the companies’ historical combined scale: around €25 billion in annual sales and nearly 140,000 employees, using 2006 figures for Continental and Siemens VDO together. These are figures from the time of the deal, not current company statistics.
Continental’s strategic rationale and announced targets
Continental presented the acquisition as a step toward becoming an integrated automotive systems provider. Its 2007 annual report described combining capabilities in safety, environmental technologies and vehicle information, including driver assistance, sensors, telematics and vehicle interfaces. This was Continental’s stated rationale, not proof that the strategy delivered its intended results.
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At the announcement, Continental forecast that integration would be complete by the end of 2009 and that the deal would generate at least €170 million in annual net synergies from 2010. Those were forecasts; the cited company materials do not establish whether the targets were achieved. Continental’s annual report described the company as ranking fifth worldwide in the automotive supplier industry following the acquisition.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How VDO fits Continental’s later brand history
The VDO name continued after the acquisition in selected businesses. In a November 3, 2020 announcement, Continental said it was changing the VDO brand to Continental for passenger-car spare parts and service equipment, while retaining VDO for tachographs, fleet-management systems, data-based services and related workshop business. Continental said the passenger-car aftermarket brand change would not change the products. This was a later brand decision, separate from the 2007 acquisition.
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Continental’s 2020 brand announcement attributed this explanation to Peter Wagner, then head of OE & Aftermarket Services: “The products will not change as a result of the brand name change: ‘Original stays original.’” The statement concerned the 2020 aftermarket rebrand, not the reason for the 2007 deal.
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Sources
- Continental’s July 25, 2007 acquisition announcement
- Continental, Annual Report 2007 (published 2008)
- Continental company history and milestones
- Continental’s November 3, 2020 VDO brand announcement
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