Schaeffler to acquire Koovers for $17m.

Schaeffler, a manufacturer of rolling element bearings for automotive, aerospace and industrial uses, agreed to acquire Koovers, a B2B e-commerce platform, for $17m. "With great excitement, we announce the signing of the acquisition of KRSV, an important move aimed at strategically enhancing the creation of value through our cutting-edge repair solutions for our valued customers in India. Throughout our journey, Schaeffler Automotive Aftermarket has remained focused to streamline workshop operations through its innovative product range and solutions. This ambition is powerfully reinforced by the innovative digital offer that KRSV has brought to the table with its platform Koovers, continuing to drive our joint mission," Jens Schüler, Schaeffler CEO of Automotive Aftermarket.