Lear Acquires InTouch Automation For Undisclosed Sum

• Lear Corp (NYSE: LEA) has acquired InTouch Automation, a supplier of Industry 4.0 technologies and complex automated testing equipment critical in producing automotive seats. The financial details of the transaction were not disclosed.

• InTouch, founded in 2006, is privately owned and based in Novi, Michigan.

• InTouch's product portfolio fits with Lear's strategy to automate the testing and validation of components and finished seats.

• These high-tech solutions also allow Lear to collect and analyze real-time data while standardizing testing procedures throughout its just-in-time (JIT) seating production process.

• "This acquisition is another step in increasing Lear's automation and manufacturing flexibility," said Frank Orsini, Lear EVP and President, Seating.

• Lear held $842.2 million in cash and equivalents as of October 1, 2022.

• Price Action: LEA shares are trading higher by 0.97% at $144.19 on the last check Friday.

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