US-based Lear has acquired intellectual property and technology from Autonet Mobile, a developer of software and devices for automotive applications based in California, United States. According to the automotive seating and electrical distribution systems supplier's announcement yesterday (17 August), Lear's purchase includes hiring key members of Autonet Mobile's software and product development team. The Californian company was founded in 2005 and developed technology that directly connects onboard vehicle systems with cloud-based applications using proprietary data-exchange capabilities, through cellular networks. Lear says that the intellectual property and technology will complement its wireless capabilities and provide growth opportunities for its electrical business. Lear expects combining its expertise with Autonet Mobile's technology will help connect gateway modules with an array of features, including over-the-air software update capabilities. In the statement, Lear president and CEO Matt Simoncini said, "The acquisition of Autonet Mobile's technology is consistent with our strategy of adding software capabilities that will complement our electrical distribution business. We continue to see excellent growth opportunities for our electrical business as consumers demand greater connectivity features for their vehicles."
Significance: Autonet Mobile will continue to operate and offer products to the automotive aftermarket through a technology licence from Lear, and the financial terms of the acquisition were not disclosed. Lear announced earlier this month that it is looking for acquisitions to boost the capabilities of its electrical division. Based on Lear's statements, this agreement is not expected to be the company's final acquisition. The fact that Autonet Mobile will continue offering products in the aftermarket signals that Lear continues to focus on supplying OEMs directly, rather than consumers through the aftermarket.
