Delphi Agrees to Acquire Self-Driving Vehicle Software Supplier nuTonomy
GCA is acting as lead financial advisor to Delphi in connection with this transaction, our 17th automotive and auto-tech related transaction in the last two years.
The transaction brings together the leading AD start-up and the leading AD Tier 1 and further accelerates Delphi’s path to commercialization of AD and Automated Mobility on-Demand (AMoD) solutions for automakers and new mobility customers worldwide.
Founded in 2013 by Dr. Karl Iagnemma and Dr. Emilio Frazzoli and recently named a World Economic Forum Technology Pioneer, nuTonomy is developing a proprietary full-stack AD software solution for the global AMoD market. The company will add more than 100 employees, including 70 engineers and scientists, to Delphi’s more than 100-member AD team, while increasing Delphi’s access to new customers and markets in the emerging mobility space. By combining efforts with nuTonomy in Boston, Singapore, and other pilot cities around the world, Delphi will have 60 autonomous cars on the road across three continents by year-end.
“We are delighted to welcome Karl, Emilio, and their talented team to Delphi,” said Delphi’s President and Chief Executive Officer, Kevin Clark. “The combination of the nuTonomy and Ottomatika AD teams, along with Delphi’s industry-leading portfolio of perception systems and smart vehicle architecture solutions, further enhances our competitive position as the industry’s most formidable provider of autonomous mobility solutions. This transaction is another example of our ongoing dedication to developing, implementing, and commercializing the highest performing and safest AD system available.”
The acquisition of nuTonomy is the latest, and largest, in a series of investments that Delphi has made to expand its leadership position in the new mobility space, including the acquisition of AD software developer Ottomatika (GCA advised) and data service companies Control-Tec and Movimento.
The transaction is subject to customary closing conditions and is expected to close prior to year-end.
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