Auto parts supplier Aptiv to buy software firm Wind River for $4.3 bln – Reuters
Jan 11 (Reuters) – Auto parts maker Aptiv PLC (APTV.N) said on Tuesday it would buy software developer Wind River from private equity firm TPG Capital for $4.3 billion, seeking to capitalize on a surge in spending by automakers to digitalize their cars.
The all-cash deal will expand Aptiv’s footprint in an area that is fast becoming the next battleground for automakers, which are spending billions of dollars to enable over-the-air updates and add smartphone-like features.
Once owned by Intel Corp , Wind River develops software and cloud systems for several industries such as automotive, aerospace, defense, industrial, medical and telecommunications. Its revenue in 2021 was about $400 million.
Register now for FREE unlimited access to Reuters.com
Register
Aptiv, whose customers include Stellantis NV (STLA.MI), Volkswagen AG (VOWG.DE) and General Motors Co (GM.N), battled supply chain problems for much of 2021 but has seen rising demand for its automated driving systems.
The company said it would combine Wind River’s auto software with its Smart Vehicle Architecture platform. Wind River will operate as a stand-alone business within Aptiv.
Aptiv has forecast 2021 revenue of $15.1 billion to $15.5 billion, which if met, could be its highest in seven years.
(This story corrected to remove extraneous word in paragraph 2)
Register now for FREE unlimited access to Reuters.com
Register
Reporting by Abhijith Ganapavaram in Bengaluru; Editing by Aditya Soni
Our Standards: The Thomson Reuters Trust Principles.
