German auto parts and technology company Bosch said Tuesday it is buying Five, a British automated driving startup, for an undisclosed amount.
Bosch said Five, which is based in Cambridge and employs 140 people at six locations in the U.K., currently focuses on a cloud-based development and testing platform for the software used in self-driving cars.
Bosch board member Markus Heyn said the company wants Five “to give an extra boost to our work in software development for safe automated driving, and offer our customers European-made technology.”
Bosch said in a statement that Five “gave preference to Bosch over other takeover bidders,” which it didn’t identify, and that the agreement was signed at the beginning of April. It said the companies agreed not to disclose financial details, and that the deal is subject to approval by antritrust authorities.
VW and Bosch join forces to rev up automated driving
© 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
Citation:
Germany’s Bosch buys British automated driving startup Five (2022, April 12)
retrieved 12 April 2022
from https://techxplore.com/news/2022-04-germany-bosch-british-automated-startup.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no
part may be reproduced without the written permission. The content is provided for information purposes only.
For all the latest Technology News Click Here
For the latest news and updates, follow us on Google News.
