Faurecia and Parrot have finalised a proposal concerning the take-over of 100% of Parrot Automotive by Faurecia, ahead of schedule. Parrot Automotive is a French tech company that designs, develops and markets infotainment products for passenger vehicles and commercial trucks.
This transaction, according to Faurecia, 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 euros, identical to that used when Faurecia entered into the capital of Parrot Automotive in 2017.
Parrot Automotive's NIS 8300 scalable and future-proof infotainment platform.
Founded in 1997, Faurecia has grown to become a major player in the global automotive industry. With 290 sites including 30 R&D centres and 109,000 employees in 35 countries, Faurecia is now a global leader in its three areas of business: automotive seating, interior systems and clean mobility. Faurecia has focused its technology strategy on providing solutions for smart life on board and sustainable mobility. In 2017, the Group posted total sales of 20.2 billion euros and value-added sales of 17.0 billion euros.
Also read: Faurecia displays its 'Cockpit of the Future' in India
Faurecia's futuristic cockpit wins Renault innovation award
Faurecia breaks ground for new plant in Kia Motors India’s Vendor Park in Andhra Pradesh