Volkswagen Software Unit Acquires Hella's Camera-Software Business
September 29 2020 - 2:09AM
Dow Jones News
By Olivia Bugault
Volkswagen AG said Tuesday that its software unit Car.Software
Org is acquiring the front camera-software business area of HELLA
Aglaia Mobile Vision GmbH, a subsidiary of Germany's Hella GmbH
& Co. KGaA.
The acquisition--whose financial details weren't disclosed--is
scheduled to be completed at the beginning of 2021, once approved
by antitrust authorities, the German car maker said.
"Through this transaction, the software company intends to
expand its competence in the field of image processing and to forge
ahead with the development of automated driving functions for all
Volkswagen Group brands," it said.
Roughly half of HELLA Aglaia's employees will be transferred to
Car.Software Org, Volkswagen said, without specifying the exact
number.
Car.Software Org groups the software skills of Volkswagen's
different car brands such as Audi and Porsche and is developing a
standardized software architecture for vehicles of all brands among
other software-related tasks. "To accomplish these tasks,
investments in excess of more than seven billion euros ($8.17
billion) are planned up to 2025," Volkswagen said.
Write to Olivia Bugault at olivia.bugault@wsj.com
(END) Dow Jones Newswires
September 29, 2020 01:54 ET (05:54 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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