Panasonic in talks to buy ZKW to push into auto electronics

Japan’s Panasonic is in talks to buy European automotive light maker ZKW Group, accelerating its push into the automotive electronics market, a person familiar with the matter said. The deal could be worth up to $1 billion and the two companies could reach a basic agreement as early as this month, the Nikkei business daily reported on Monday.
 
An acquisition of ZKW would expand Panasonic’s automotive lineup, which currently centres on batteries and navigation systems, as it shifts its focus to corporate clients to escape price competition from lower-margin consumer electronics manufacturers. Panasonic said in a statement the reported deal was not something it had announced, and declined to comment further.