According to German media reports, German technology giant Bosch purchased the heating and air conditioning business of residential and small commercial buildings from Johnson Controls-Hitachi (JCH) for 8 billion US dollars (approximately 7.4 billion euros) on the 23rd. This is the largest acquisition in Bosch's history. Reports said that JCH is a joint venture between Johnson Controls of the United States and Hitachi Group of Japan, engaged in heating, ventilation, and air conditioning businesses for residential and small commercial buildings around the world, with business operations in more than 30 countries. The acquisition includes 16 production bases and 12 R&D bases.