# CIE Automotive acquires Somaschini for €79.6 million

CIE Automotive Group acquired Italy-based gears specialist Somaschini, which has nearly 300 employees and three production plants in Italy and the US, for €79.6 million.

- Type: Acquisition
- Announced: 2020-01-09
- Where: Bergamo, Italy; South Bend, Indiana, USA, Italy
- Value: $88.0M (79.6M EUR)
- Jobs: 300
- Status: completed
- Products: gears for mobile applications
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md), [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [CIE Automotive](https://endata.com/companies/16833.md) (acquirer)
- [Somaschini](https://endata.com/companies/44405.md) (target)

## Sources

- [powerprogress.com](https://www.powerprogress.com/news/cie-automotive-acquired-somaschini/5029994.article), 2020-01-09: "The value of the transaction amounted to €79.6 million Euros."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.