TOKYO, April 16 (Reuters) - Japan’s Nidec Corp said on Tuesday it would buy Omron Corp’s automotive electronics unit for about 100 billion yen ($893.50 million) as the precision motor maker accelerates its push into autonomous driving.
The deal is part of Nidec’s drive to double sales of the automotive business to 600 billion yen by the year ending March, 2021.
Omron’s unit, Omron Automotive Electronics Co, has strengths in electronics devices for body control and motor control systems, as well as laser radar and driver monitoring systems.
The acquisition, to be closed by the end of October, would allow Nidec to provide a full spectrum of sensors required for autonomous driving, the company said in a statement.
Nidec has also been expanding into traction motors, the most important element of an electric vehicle’s powertrain. It has formed a joint venture with Peugeot carmaker PSA Group to produce traction motors. ($1 = 111.9200 yen) (Reporting by Makiko Yamazaki; Editing by Rashmi Aich)