Delphi reaches agreement on nuTonomy acquisition

7207 Delphi has signed an agreement to acquire nuTonomy (NT) for an upfront purchase valued $400 million (£303 million) and earn-outs totalling approximately $50 million (£37 million). It will accelerate Delphi's commercialization of autonomous driving (AD) and Automated Mobility on-Demand (AMoD) solutions for automakers and new mobility customers worldwide. The transaction is subject to customary closing conditions and is expected to close before the end of the year.

Dr. Karl Iagnemma, Dr. Emilio Frazzoli and NT are developing a proprietary full-stack AD software solution for the global AMoD market. The company will add over 100 employees, including 70 engineers and scientists, to Delphi’s 100+ member AD team.

Once the transaction has been completed, Delphi will have AD operations in Boston, Pittsburgh, Singapore, Santa Monica, and Silicon Valley.  NT will remain in Boston, where both companies currently operate AMoD pilot programs. Through combining efforts with NT in Boston, Singapore, and other pilot cities around the world, Delphi will have 60 autonomous cars on the road across three continents by the end of the year.