Lear Acquires Arada Systems, a Leading Automotive Technology Company that Specializes in Vehicle-to-Vehicle and Vehicle-to-Infrastructure Communications
SOUTHFIELD, Mich., Nov. 30, 2015 /PRNewswire/ -- Lear Corporation (NYSE: LEA), a leading global supplier of automotive seating and electrical distribution systems, today announced that it has acquired Arada Systems, a Troy, Michigan based automotive technology company that specializes in Vehicle-to-Vehicle and Vehicle-to-Infrastructure (V2X) communications.
"Lear is a leader in managing power and distributing signals within a vehicle. The acquisition of Arada Systems, in addition to our recent acquisition of technology from Autonet Mobile, adds software and hardware capabilities to our portfolio to securely facilitate wireless communications between the vehicle and external networks, as well as other vehicles," said Matt Simoncini, Lear's president and chief executive officer. "We see excellent growth opportunities for our Electrical business as the connectivity mega-trend drives increased requirements for data and signal management to meet rapidly growing demand for more connectivity and communication features in vehicles."
Arada Systems has developed V2X software and hardware solutions utilizing its expertise in 5.9 GHz dedicated short range communications and other wireless communications protocols, notably GPS. Arada has developed software solutions to ensure highly secure V2X communications and defend against cyber-security attacks. Arada's V2X products include its LocoMate series of roadside units for infrastructure and on-board units for vehicles. Arada has 45 employees, and deployments of its technology worldwide.
Financial terms of the transaction were not disclosed.
About Lear CorporationLear Corporation (NYSE: LEA) is one of the world's leading suppliers of automotive seating and electrical distribution systems. Lear serves every major automaker in the world, and Lear content can be found on more than 300 vehicle nameplates. Lear's world-class products are designed, engineered and manufactured by a diverse team of approximately 135,000 employees located in 35 countries. Lear currently ranks #174 on the Fortune 500. Lear's headquarters are in Southfield, Michigan. Further information about Lear is available at http://www.lear.com.
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SOURCE Lear Corporation
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Posted on 11/30/2015