Dynamic Map Platform (DMP) is to acquire Ushr, which, on closing, will establish a single, enhanced platform for accelerated development and delivery of high-definition (HD) mapping solutions for autonomous vehicles and advanced driver-assistance systems.
DMP and Ushr provide HD maps in Japan and North America, respectively. EnerTech, a venture capital firm which invests in energy innovation and technology, is Ushr’s largest financial investor.
“EnerTech’s vision and leadership were fundamental to the founding of Ushr and in reaching this agreement,” said Ushr CEO, Bruce Gordon.
“Their expertise, network, and resources, not to mention their willingness to roll up their sleeves and work as a partner with management and stakeholders have been invaluable.”
Ushr was created in 2017 as a spin out of the automotive mapping business unit of a separate EnerTech portfolio company, GeoDigital, a Canadian company specialising in geospatial mapping services and software.
When combined with vehicles equipped with sensors and software enabling autonomous driving, Ushr’s HD maps allow self-driving cars to safely operate on mapped roadways, providing precise lane centering, smooth control through curves and the ability to anticipate roadway changes.
In 2017, EnerTech spearheaded the strategy and spinout of GeoDigital’s automotive mapping business unit to form Ushr.
“The features and functionality that will redefine driving in the coming years are being sourced from new providers including young technology companies that may or may not have started life in the auto industry,” added Ushr board member and former GM vice chairman, Bob Lutz.
“Investors like EnerTech, who provide the vision, resources, expertise, and patience needed to help these companies recognise and seize new opportunities, are critical to the success of future developments in advanced mobility markets.”
The transaction is subject to customary closing conditions including receipt of regulatory approval. Terms of the agreement have not been disclosed.