motor vehicles, and engines, which dates back more than
a century.An Agreement of Mutual Interest was signed on 1 May 1924 between Benz & Cie (founded 1883 by Karl Benz) and Daimle Motoren Gesellschaft (founded 1890 by Gottlieb Daimler and Wilhelm Maybach).
Both companies continued to manufacture their separate automobile and internal combustion engine brands until, on 28 June 1926, when Benz & Cie. and Daimler Motoren Gesellschaft AG formally merged—becoming Daimler-Benz AG—and agreed that, thereafter, all of the factories would use the brand name of Mercedes-Benz on their automobiles.
In 1998, Daimler-Benz and Chrysler Corporation announced the world's largest cross-border deal ever, valued at US$38billion, and the resulting change in company name to "DaimlerChrysler AG".
In 2007, when the Chrysler group was sold off to Cerberus Capital Management (see below), the name of the parent company was changed to simply "Daimler AG".
In November 2014, Daimler announced it would acquire 25 percent of Italian motorcycle producer MV Agusta for an undisclosed fee.
