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In brief: Johnson Controls completes $700M HomeLink sale

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Milwaukee-based Johnson Controls Inc. has completed the sale of its HomeLink business to Michigan-based Gentex Corp.

Johnson Controls received about $700 million, subject to adjustments, for the business, according to a news release.

HomeLink is a vehicle-based control system for drivers to remotely activate garage door openers, entry gates, home lighting and other functions.

The sales agreement was announced this summer after Johnson Controls decided to sell its entire automotive electronics business.

Shares of Johnson Controls, which includes operations for its business segment for building efficiency in York County, are traded on the New York Stock Exchange under the ticker symbol JCI.

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