Faurecia acquires Parrot Automotive
The acquisition will help accelerate the development of infotainment solutions based on the Android operating system by Parrot Automotive and the development of an open platform integrating the different connected systems and functionalities of the vehicle interior.
Tier 1 supplier Faurecia and Parrot Automotive, a leading player in the field of connected automotive entertainment, have finalised a proposal for the takeover of 100 percent of Parrot Automotive by Faurecia, ahead of schedule.
This transaction underlines the importance of Parrot Automotive in Faurecia's Cockpit of the Future strategy. It would accelerate the development of infotainment solutions based on the Android operating system by Parrot Automotive and the development of an open platform integrating the different connected systems and functionalities of the vehicle interior.
This will facilitate the introduction of innovative and differentiating user experiences such as for postural and thermal comfort, immersive sound experience and new HMI solutions.
The transaction would be based on an enterprise value of € 100 million, identical to that used when Faurecia entered into the capital of Parrot Automotive in 2017, and will be closed during the third quarter of 2018.
Also read: Faurecia displays its 'Cockpit of the Future' in India
RELATED ARTICLES
Skoda begins sale of made-in-India CKD Kushaq in Vietnam
Before production started, pre-series Kushaq vehicles covered over 330,000 kilometres on a variety of Vietnamese roads a...
Six Japanese companies join forces to expand use of recycled materials in new vehicles
Denso, Toray Industries, Nomura Research Institute, Honda Motor, Matec Inc and Rever Corporation have set up the BlueReb...
BYD selects Voestalpine as steel supplier for its Hungarian plant
The announcement of the Austrian steelmaker as a supplier demonstrates BYD’s strategic plan to source from high-quality,...