Bosch will buy the heating and air conditioning divisions of Johnson Controls and Hitachi for $8.1 billion to expand its presence in the US and Asia. The acquisition represents its largest transaction in history.

The German conglomerate will take over Johnson Controls' heating, ventilation and air conditioning division for residential and light commercial buildings and Johnson Controls' joint venture with Hitachi in the air conditioning segment. The transaction includes 16 manufacturing plants and 12 engineering sites in more than 30 countries and involves approximately 12,000 employees.

Bosch is active in the consumer goods, industrial, energy and building solutions sectors. The group said the acquisitions will significantly increase its presence in the US and Asia and nearly double its global HVAC market revenues to approximately €9 billion. Bosch expects the global heat pump, ventilation and air conditioning market to grow 40% by 2030, led by 50% growth in the US and approximately 30% growth in Europe.