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January 11, 2022updated 21 Jan 2022 2:10pm

Aptiv to acquire Wind River for US$4.3bn

Used on 2bn edge devices, Wind River’s software enables development, deployment, operations and servicing of intelligent systems.

By Simon Warburton

Aptiv has announced a definitive agreement to acquire Wind River from TPG Capital, the private equity platform of global alternative asset management firm, TPG, for US$4.3bn in cash.

Used on 2bn edge devices across more than 1,700 customers globally, Wind River’s software enables the development, deployment, operations and servicing of intelligent systems.

The edge-to-cloud software portfolio spans the aerospace, defence, telecommunications, industrial and automotive markets and is anchored by Wind River Studio, a cloud-native intelligent systems software platform that enables full product lifecycle management for edge-to-cloud use cases.

Wind River generated around US$400m in revenues in 2021.

“The automotive industry is undergoing its largest transformation in over a century, as connected, software-defined vehicles increasingly become critical elements of the broader intelligent ecosystem,” said Aptiv president and CEO, Kevin Clark.

“Fully capitalising on this opportunity requires comprehensive solutions that enable software to be developed faster, deployed seamlessly and optimised throughout the vehicle lifecycle by leveraging data-driven insights.

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“These same needs are driving the growth of the intelligent edge across multiple end markets. With Aptiv and Wind River’s synergistic technologies and decades of experience delivering safety-critical systems, we will accelerate this journey to a software-defined future of the automotive industry.

“In addition, we are committed to further strengthening Wind River’s competitive position in the multiple industries it serves.”

For his part, Wind River president and CEO, Kevin Dallas, added: “Combining Wind River’s software, customer base and talent with Aptiv’s complementary technologies, global resources and scale, will realise our vision of the new machine economy.

“Together we will accelerate the digital transformation of our customers across industries through intelligent systems software.”

Aptiv notes the combination will enable multiple end-use innovations and applications, particularly as compute and processing continue to move closer to the edge and connected devices, including vehicles, expand in complexity and capabilities.

Aptiv will combine Wind River Studio offering with its complementary SVA platform and automotive experience to extend its position in automotive software solutions.

Led by Dallas, Wind River will continue to operate as a stand-alone business within Aptiv as part of the Advanced Safety & User Experience (AS&UX) segment.

Aptiv will finance the transaction through a combination of cash and debt.

The acquisition is expected to close mid-year 2022 and is subject to customary conditions, including receipt of applicable regulatory approvals.

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