UK automotive testing technology company AB Dynamics has announced its acquisition of US dynamometer-based testing services provider Venshure Test Services (VTS).
The maximum consideration payable for VTS, which is being acquired from its two shareholders, is $30 million. The initial cash consideration is $15 million.
VTS is focused on developing and deploying EVs for US automotive OEMs. It comprises facilities that offer such testing services as mileage accumulation and assessment of EV powertrain and battery performance in extreme climatic conditions. Its standardized procedures are used to validate EV battery energy consumption and range testing by producing SAE J1634 quality data.
The acquisition is intended to enable AB Dynamics to expand its testing capabilities, and to complement its California-based track testing services business with laboratory-based testing.
“The acquisition expands both our capability and geographic coverage in the important and growing field of EV battery and powertrain performance evaluation,” said AB Dynamics CEO Dr. James Routh.
Source: AB Dynamics
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