Delphi Automotive to acquire nuTonomy for $450m

The automobile parts manufacturer will purchase software provider nuTonomy in the hopes that it will have 60 autonomous vehicles on the road in three continents by the end of 2017.    Delphi Automotive has inked an agreement to acquire startup software provider nuTonomy, Inc. for $400 million and earn-outs totaling approximately $50 million, the automobile parts manufacturer announced.
   nuTonomy is developing a proprietary full-stack autonomous driving (AD) software solution for the global Automated Mobility on-Demand (AMoD) market. Once finalized, the combined companies will have AD operations in Boston, Pittsburgh, Singapore, Santa Monica, and Silicon Valley.
   The companies aim to have 60 autonomous cars on the road across three continents by the end of the year, with the goal to further accelerate global fleet expansion and technology development, Delphi said in a statement.
   “Our mission has always been to radically improve the safety, efficiency, and accessibility of transportation worldwide,” said nuTonomy co-founder and CEO Karl Iagnemma. “Joining forces with Delphi brings us one step closer to achieving our goal with a market-leading partner whose vision directly aligns with ours. Together we will set the global standard for excellence in autonomous driving technology.”
   The company’s 100 employees will join Delphi’s AD team in Boston, where both are currently headquartered.
   “The combination of the nuTonomy and [software developer] 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,” said Delphi President and Chief Executive Officer Kevin Clark. “This transaction is another example of our ongoing dedication to developing, implementing, and commercializing the highest performing and safest AD system available.”
   The acquisition is subject to customary closing conditions and is expected to close in the fourth quarter of 2017, said Delphi.