Chinese electronics giant Luxshare-ICT has officially acquired German cable and wiring systems specialist Leoni AG, finalizing a transaction first announced last year.

A press release from Leoni AG said that the partnership between Luxshare-ICT and Stefan Pierer marks a key step in securing Leoni’s future growth and stability. Luxshare-ICT now holds a 50.1% stake in Leoni AG’s Wiring Systems Division, while its subsidiary TIME Interconnect has acquired 100% of the Automotive Cable Solutions (ACS) division, following all necessary approvals since the September 2024 agreement.

This deal enhances Leoni’s market access through Luxshare’s global customer network and enables ACS to expand in Europe and Asia. The combined strengths of Leoni and Luxshare will produce complementary products, drive vertical integration, and create supply chain efficiencies, while leveraging both firms’ automation expertise and global manufacturing networks.

Leoni’s CEO Klaus Rinnerberger noted that the partnership supports financial recovery and continued restructuring, with efforts underway to streamline operations and costs. “Our complementary portfolios, manufacturing strengths, and positive customer feedback prove that Leoni and Luxshare are an ideal match,” he said.

Per a Leoni LinkedIn posting, the deal brings “a time of transformations and new beginnings - not just in our business, but across our teams, our technology and our vision. ... (We look ahead) with confidence as we continue to innovate, collaborate and connect across the globe.”