In a move likened to merging supercharged engines mid-race, Allison Transmission Holdings Inc. has signed a high-octane agreement to acquire Dana Inc.’s off-highway division for $2.7 billion, a blockbuster deal set to redefine industrial propulsion worldwide.
The acquisition—steered by Latham & Watkins LLP on Allison’s side and Paul Weiss for Dana—is slated to close in the fourth quarter of 2025, pending regulatory green lights. It’s more than a merger—it’s a recalibration of the industrial drivetrain landscape.
A Global Expansion Fueled by Off-Road Ambitions
With this acquisition, Allison, the Indianapolis-based powerhouse known for its automatic transmissions and propulsion systems, aims to supercharge its footprint in construction, agriculture, mining, and forestry—industries that thrive off the beaten path.
“This acquisition marks a transformative milestone in our commitment to propulsion and drivetrain innovation,” said David Graziosi, Allison’s chair and CEO. “We’re not just buying a business—we’re buying the next chapter of how the world moves.”
Currently operating in over 150 countries, Allison will now absorb Dana’s off-highway division, which spans 25+ nations and employs around 11,000 workers. The unit specializes in axles, drivetrain components, and hybrid-electric propulsion systems, supporting a who’s who of off-road vehicle manufacturers.
