Automotive supplier Delphi Automotive is buying self-driving car business NuTonomy for $400 million, plus earn-outs totalling $50 million.
The deal, expected to close before the end of the year, will accelerate both company’s efforts in the self-driving car space.
Delphi, when combined with NuTonomy, will have 60 autonomous cars on the road across three continents by year-end.
“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.”
Founded in 2013, NuTonomy is developing a proprietary full-stack autonomous driving (AD) software solution for the global automated mobility on-demand (AMoD) market and is conducting driverless car trials in Singapore.
The company’s 100 employees, including 70 engineers and scientists, will join Delphi’s 100-member AD team. NuTonomy will continue to be based in Boston, where both companies currently operate AMoD pilot programs.
The acquisition of NuTonomy is the latest in a series of investments that Delphi has made to solidify its position in the new mobility space, including the acquisition of AD software developer Ottomatika and data service companies Control-Tec and Movimento.
“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,” said Delphi’s President and CEO, Kevin Clark.
“This transaction is another example of our ongoing dedication to developing, implementing, and commercialising the highest performing and safest AD system available.”
Upon completion of the transaction, Delphi will have AD operations in Boston, Pittsburgh, Singapore, Santa Monica, and Silicon Valley.