Delphi closes nuTonomy acquisition
Delphi Automotive, which will soon to become Aptiv, has closed its acquisition of nuTonomy, a leading developer of autonomous driving (AD) software solutions.
The deal, which was first announced on 24 October, sees Delphi pay an upfront purchase price of US$400 million and earn-outs totalling approximately $50 million.
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.
Delphi Automotive PLC is headquartered in Gillingham, UK and operates technical centres, manufacturing sites and customer support services in 46 countries. Delphi Automotive will become two standalone companies on 4 December 2017. Aptiv 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, the powertrain segment, aims to leverage leading technologies and software to enable next-generation advanced vehicle propulsion systems for global customers, taking advantage of the industry move to electrification.