 | |
| Company type | Public limited company |
|---|---|
| NYSE: DLPH | |
| Industry | Computer Programming Services  |
| Fate | Acquired by BorgWarner |
| Parent | BorgWarner (84%) |
| Website | delphi |
Delphi Technologies was an independent automotive company from 2017 to 2020, when it was acquired by BorgWarner Inc.
Delphi Technologies was formed in 2017 when Delphi Automotive, formerly a division of General Motors, renamed itself Aptiv and spun off its powertrain and aftermarket related businesses to a stand-alone company Delphi Technologies PLC. The $4.5 billion company began trading under the former Delphi Automotive symbol DLPH on the New York Stock Exchange.[1][2][3] It was added to the S&P MidCap 400 Index on 6 December 2017.[4]
The company provided combustion systems, electrification products and software and controls, and operated in the passenger car and commercial vehicle markets, and in vehicle repair through a global aftermarket network.[1] The company had 20,000 employees including 5,000 engineers.[when?] It was headquartered in London, U.K. and operates technical centers, manufacturing sites and customer support services in 24 countries.[1]
Upon the formation of Delphi Technologies, Liam Butterworth, head of the former Delphi Automotive's global powertrain business since 2014, was named CEO.[5] In October 2018, he left the company, and director and former Tenneco COO Hari Nair was named interim CEO.[6] On 7 January 2019 Richard Dauch was named new CEO.[7]
On 28 January 2020, BorgWarner Inc. agreed to buy Delphi Technologies in an all stock merger that valued Delphi at about $3.3 billion, Delphi stockholders would own about 16% of the combined company.[8] The deal was completed in October 2020.[9]