Delphi Closes Acquisition of nuTonomy
Acquisition brings together industry leading autonomous driving software providers, increasing commercialization opportunities in the rapidly emerging mobility space
Nov 21, 2017, 14:00 ET
BOSTON, Nov. 21, 2017 /PRNewswire/ -- Delphi Automotive PLC (NYSE: DLPH), soon to be Aptiv (NYSE: APTV), announced today that it has closed its acquisition of nuTonomy, a leading developer of autonomous driving (AD) software solutions. The addition of nuTonomy further strengthens Aptiv's position as a technology leader in the global autonomous mobility market.
nuTonomy was founded in 2013 by Dr. Karl Iagnemma and Dr. Emilio Frazzoli and was recently named a World Economic Forum Technology Pioneer for its work in improving the safety, efficiency, and accessibility of urban transportation. With over 100 employees, including 70 engineers and scientists, nuTonomy contributes significant additional scale and resources to Aptiv's existing AD capabilities, more than doubling its current 100-member AD team and increasing its access to new customers and markets in the emerging mobility space. By combining efforts in Boston, Singapore, and other pilot cities around the world, Aptiv will have 60 autonomous cars on the road across three continents by year-end, with the goal to further accelerate global fleet expansion and technology development.
Terms of the transaction are consistent with those announced on October 24, 2017.
Advisors
GCA Advisors, LLC and Goldman, Sachs & Co. served as financial advisors to Delphi Automotive PLC.
About Delphi
Delphi Automotive PLC is a high-technology company that integrates safer, greener and more connected solutions for the automotive and transportation sectors. Headquartered in Gillingham, U.K., Delphi operates technical centers, manufacturing sites and customer support services in 46 countries. Visit delphi.com. Delphi Automotive will become two standalone companies on December 4, 2017. Aptiv (NYSE: APTV) will comprise the Electronics & Safety and Electrical/Electronic Architecture segments, focused on accelerating the commercialization of new mobility solutions by providing the vehicle 'brain' and the 'nervous system' to global automotive and new mobility customers. Delphi Technologies (NYSE: DLPH), the powertrain segment, will leverage leading technologies and software to enable next-generation advanced vehicle propulsion systems for global customers, taking advantage of the industry move to electrification.
SOURCE Delphi Automotive PLC