Terms of the transaction were not disclosed. Closing is subject to satisfaction of certain customary conditions, including Indian regulatory approval, and is expected in the first quarter of 2016.
AllGoVision, the Video Analytics business unit of AllGo Systems, is not included in the transaction and will be spun off to operate as an independent company.
AllGo Systems is a leading infotainment media playback and connectivity solutions supplier, bringing Linux and Android engineering expertise for automotive applications, including a comprehensive intellectual property (IP)-protected portfolio of in-vehicle-infotainment, media and connectivity solutions for the connected display audio market.
“We are looking forward to joining Visteon at this exciting time in the company’s growth in the connected technology space,” said K. Srinivasan, director and CEO, AllGo Systems. “With our production-proven middleware and Visteon’s expertise in automotive infotainment solutions, the two companies have a strong strategic fit that will enable us to expand our global market share in the connected display radio market.”
AllGo’s strong position in multimedia and smartphone connectivity software adds greater scale and depth to Visteon’s infotainment software capabilities. The addition of AllGo’s assets and talented workforce will enable Visteon to accelerate the innovation and penetration of affordable automotive infotainment solutions to their customers.
“AllGo’s ready-to-use IP provides automotive manufacturers with a turnkey software-on-chip (SoC) solution to cost-effectively introduce smartphone and mobile applications from the vehicle’s audio head unit,” said Sachin Lawande, Visteon President and CEO. “We’re looking forward to working with the AllGo team and its customers.” fii-news.com
