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.
13 Jul 2018 | 7090 Views | By Autocar Pro News Desk
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