Delphi announced on Monday 17 November that it has acquired Grundig Car InterMedia System GmbH, a wholly-owned subsidiary of Grundig AG, for approximately €58 million. The purchase price includes €55 million in cash for the stock of the company and assumption of the net debt of the business.

Grundig Car InterMedia System produces vehicle audio systems, telematics devices and other vehicle entertainment products for European OEMs and for the aftermarket. The business employs 1,000 people and had sales of approximately €180 million in 2002. Its engineering and commercial activities are located in Nuremburg, Germany with production operations in Braga, Portugal.