FRIEDRICHSHAFEN, Germany, March 30 The auto
supplier industry will see further megamergers in the wake of
ZF's acquisition of TRW and Intel's
acquisition of Mobileye, ZF Chief Executive Stefan
Sommer said on Thursday.
The complexity of self-driving cars is forcing high tech
software and semiconductor companies to team up with auto
suppliers and manufacturers, a dynamic that is likely to spur
more takeovers and acquisitions going forward, ZF's CEO said.
"If you look at all of these megamergers, they have a clear
deal rationale. As this is the case, and we still have companies
that collaborate, and could still collaborate, I am expecting
more megamergers," Sommer told journalists gathered at the
company's annual results press conference in Friedrichshafen,
Germany on Thursday.
(Reporting by Edward Taylor; Editing by Harro ten Wolde)