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The Company and Subsequent Events
6 Months Ended
Jun. 30, 2014
The Company and Subsequent Events

Note 1 – The Company and Subsequent Events

Gentherm Incorporated is a global technology and industry leader in the design, development, and manufacturing of innovative thermal management technologies.  Unless the context otherwise requires, the terms “Company”, “we”, “us” and “our” used herein refer to Gentherm Incorporated and its consolidated subsidiaries. We operate in locations aligned with our major customers’ product strategies in order to provide locally enhanced design, integration and production capabilities and to identify future climatic comfort product opportunities in both automotive and other markets.  We concentrate our research on the development of new technologies that will improve overall product effectiveness and customer satisfaction.  We also focus on developing new design applications from our existing technologies to create new products and market opportunities for thermal comfort solutions.

Buyout of Joint Venture Partner

On February 12, 2014 we acquired all of the previously unowned shares in our North American electronics manufacturing joint venture which had previously been accounted for under the equity method.  The purchase was accounted for using the acquisition method and resulted in a gain of $785.

Global Thermoelectric  

On April 1, 2014, we acquired all of the stock of privately-held Global Thermoelectric Inc. (“GTE”), in an all-cash transaction.  GTE is the global market leader and developer of thermoelectric generators.  GTE’s world headquarters and manufacturing operations are located in Alberta, Canada. See Note 3, “Global Thermoelectric Acquisition” for additional information regarding GTE.

Subsequent Events  

We have evaluated subsequent events through the date that our consolidated financial statements are issued. No events have taken place that meet the definition of a subsequent event requiring adjustments to or disclosures in this filing.