Given that the company they just bought is the industry standard for this part, I'm sure they intend to keep making them. Doesn't make sense to cancel a star product.

Not cancel, but usually when someone gets bought, the product quality tanks.

That's highly dependent on the type of acquisition. What the new owners want from the purchase makes all the difference. In the case of Google and many Silicon Valley companies, you see "acqui-hires", where they buy the company just as a way of hiring staff. Those, for example, almost always kill the original product entirely. Sometimes it is just a "if we cut quality, we can raise profits on this little investment we just bought into". But often it's to take advantage of mutual strengths to grow product lines in ways they couldn't before.

They were bought by ZF a few years back