The Bosch Group is in the process of spinning off its spin-offs, with the company announcing on Tuesday that it would invest $1 billion in its new company.
The spin-on will be based on the Bosches brand, the spin-ons that the company is developing in Europe, the announcement said, according to a statement from the company.
Bosch spun off its Bosch Brands in 2009.
Bosch Brands is a division of Bosch, the parent company of Bosches products and services.
The company said it will be working with investors including BlackRock and Sequoia Capital to accelerate the spinoff and bring the value of the company up to $1.6 billion.BOSCH is a global leader in manufacturing and technology and the largest maker of high-performance semiconductors.
The company employs nearly 4,000 people in the United States and over 2,000 worldwide.