Gentex to Acquire HomeLink from Johnson Controls for $700M

Gentex Corporation

, the Zeeland, Michigan-based manufacturer of automatic-dimming rearview mirrors and camera-based lighting and driver-assist systems for the automotive industry, commercial fire protection products and dimmable aircraft windows, today announced the signing of a definitive agreement to acquire Johnson Controls'

HomeLink® business. Under the terms of the agreement, Gentex will acquire all of Johnson Controls' HomeLink assets, intellectual property, testing facilities, and the talented employees who manage and support the business, for a purchase price of $700 million. The transaction is subject to customary closing conditions, including certain regulatory approval, and is targeted to close on or about September 30, 2013.