Visteon Signs Agreement to Acquire India-based Automotive Multimedia Systems Supplier, AllGo Systems

VAN BUREN TOWNSHIP, Mich., Jan. 12, 2016 /PRNewswire/ -- Global automotive cockpit electronics supplier Visteon Corporation (NYSE: VC) today announced it has signed an agreement to acquire AllGo Systems, a leading developer of embedded multimedia system solutions to global vehicle manufacturers. The agreement, which is subject to customary closing conditions and regulatory approvals, is expected to close during the first quarter of 2016. Terms were not disclosed.

Headquartered in Bangalore, India, AllGo is a leading infotainment media playback supplier, bringing Linux and Android engineering expertise for automotive applications, including a comprehensive intellectual property (IP)-protected portfolio of in-vehicle-infotainment, media and connectivity solutions for the connected display audio market.

"AllGo's strong position in multimedia and smartphone connectivity software adds greater scale and depth to Visteon's infotainment software capabilities," said Sachin Lawande, Visteon president and CEO. "AllGo's ready-to-use IP provides automotive manufacturers with a turnkey software-on-chip (SoC) solution to cost-effectively introduce smartphone and mobile applications from the vehicle's audio head unit."

Employing approximately 140 people across India, the U.S., Asia and Europe, AllGo's infotainment solutions have been proven on a range of global vehicle platforms.

"We are looking forward to joining Visteon at this exciting time in the company's growth in the connected technology space," said K. Srinivasan, director and CEO, AllGo Systems. "With our production-proven middleware and Visteon's expertise in automotive infotainment solutions, the two companies have a strong strategic fit that will enable us to expand our global market share in the connected display radio market."

"The addition of AllGo's assets and talented workforce will enable Visteon to accelerate the innovation and penetration of affordable automotive infotainment solutions," Lawande said. "We're looking forward to working with the AllGo team and its customers."

About AllGo Systems
AllGo Systems, founded in 2005, is a leading product design company focused on providing multimedia solutions for automotive and computer vision markets. AllGo licenses Multimedia / Smartphone Connectivity software and multimedia codecs to automotive customers worldwide. AllGo's production proven media and connectivity middleware, along with BSP development and system integration capabilities, provide a one-stop solution for high quality infotainment software. AllGo has offices in India and U.S. with sales and support across the globe.

About Visteon
Visteon is a global company that designs, engineers and manufactures innovative cockpit electronics products and connected car solutions for most of the world's major vehicle manufacturers. Visteon is a leading provider of instrument clusters, head-up displays, information displays, infotainment, connected audio, and connectivity and telematics; its brands include Lightscape®, OpenAir® and SmartCore™. Headquartered in Van Buren Township, Michigan, Visteon has nearly 11,000 employees at 50 facilities in 19 countries. Visteon had $3.1 billion in electronics sales over the last 12 months. Learn more at www.visteon.com.

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SOURCE Visteon Corporation