Editor's note: An earlier version of this story confused Aptiv's name with another supplier in a sentence describing its ranking on the list of largest global auto suppliers. The original story also incorrectly concluded the goal for the acquisition. Aptiv said it won't involve its automotive business.
DETROIT -- Aptiv is acquiring a German micro duct supplier for $310 million.
Aptiv, whose North American base is in Troy, signed an agreement to buy Systemtechnik, commonly called gabocom, from private equity firm Bregal Unternehmerkapital, according to a Wednesday news release.
Gabocom makes micro duct systems that protect cables for the telecommunications industry. It will be folded into Aptiv's HellermannTyton business, which manufactures products that protect cables for industries including automotive, aerospace, defense and energy.
"This transaction broadens our capabilities in the telecommunications market and expands our platform for growth in key industrial markets," Aptiv CEO Kevin Clark said in the release.
Aptiv is continuing a series of acquisitions it made leading up to its split with Delphi Technologies in 2017. It acquired automated driving software company Ottomatika in 2016 and software businesses Movimento and NuTonomy the following year.
The supplier saw its second-quarter net income fall 5.8 percent to $274 million, and its revenue fall 1.5 percent to $3.63 billion. It cited low vehicle production and a flat commercial vehicle market as the cause. Its stock was trading at $85.11 per share as of closing Tuesday, down about 2.6 percent from where it opened.
Aptiv ranks No. 20 on the Automotive News Europe list of the top 100 global suppliers with worldwide sales to automakers of $12.87 billion in 2018.