Lear Corporation, a leading global supplier of automotive seating and electrical distribution systems, has acquired intellectual property and technology from Autonet Mobile, a Santa Rosa, Calif.-based developer of software and devices for automotive applications.
As part of the acquisition, Lear said it has hired key members of Autonet Mobile's software and product development team.
Founded in 2005, Autonet Mobile's technology directly connects on-board vehicle systems with cloud-based applications using proprietary data exchange capabilities via cellular networks.
The acquired intellectual property and technology will complement Lear's wireless capabilities and provide growth opportunities for Lear's Electrical business. Combined with Lear's expertise in embedded vehicle electrical distribution systems and related electronics capabilities, Autonet Mobile's technology will help connect gateway modules with an array of features including over-the-air software update capabilities.
"The acquisition of Autonet Mobile's technology is consistent with our strategy of adding software capabilities that will complement our electrical distribution business," said Matt Simoncini, Lear's president and chief executive officer. "We continue to see excellent growth opportunities for our electrical business as consumers demand greater connectivity features for their vehicles."
Autonet Mobile will continue to operate and offer products to the automotive aftermarket through a technology license from Lear. Financial terms of the transaction were not disclosed.
“The acquisition of Autonet Mobile’s technology by Lear allows Autonet to focus on new innovations in the automotive aftermarket for the connected car,” said Sterling Pratz, Autonet Mobile’s co-founder.
Under its agreements with Lear, Autonet Mobile will continue to support its programs with existing customers, while also targeting new customers in the automotive aftermarket with a new platform of innovative products and services aimed at the rapidly growing consumer connected car space.
Autonet Mobile’s new platform will be focused on dealer to vehicle and dealer to consumer communications. This new technology will enable a host of new services and vehicle applications that can monitor critical components within the vehicle in real time.
“Autonet Mobile now has the resources to further develop its products, strategy and management team to capitalize on the rapidly emerging automotive connectivity market at the consumer and dealer level,” said Autonet Chairman Roy Vallee.
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