German auto-parts maker and engineering firm Bosch has acquired US-based automotive diagnostics proider, SPX Service Solutions for $1.15bn.
The deal is expected to strengthen the company's position in workshop and repair business across the globe.
Bosch Automotive Aftermarket division president Robert Hanser said that the company will quickly merge its know-how and wealth of experience in the growing market.
"Our aim is to become the world's leading supplier of diagnostics solutions for all makes of vehicles," Hanser added.
The acquired business will be combined into the Bosch Automotive Aftermarket (AA) division to form a new business unit called 'Automotive Ser-vice Solutions' to offer engineering services for automakers and workshops.
SPX Service Solutions, which develops, produces and sells repair-shop accessories and software for the global automotive market, has manufacturing plants in the US, Germany, France, and China.
The company has reported sales of about $920m in 2011.
