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Groupement ADAS : Advanced Driver Assistance Systems
23 juin 2017

GM Buying Self-Driving Tech Startup for More Than $1 Billion

GM Buying Self-Driving Tech Startup for More Than $1 Billion

General Motors (GM, -0.15%) this morning announced that it will acquire Cruise Automation, a San Francisco-based developer of autonomous vehicle technology. No financial terms were disclosed, but Fortune has learned from a source close to the situation that the deal is valued at "north of $1 billion," in a combination of cash and stock.

Talks between the two companies originally related to a strategic investment by GM in Cruise, which was planning to raise a new round of venture capital funding. But that quickly morphed into an acquisition discussion with the entire agreement getting hashed out in less than six weeks.

Cruise Automation had raised over $18 million in venture capital funding, most recently at a post-money valuation of around $90 million. Investors include Spark Capital, Maven Ventures, Founder Collective, and Y Combinator.

Read More : http://fortune.com/2016/03/11/gm-buying-self-driving-tech-startup-for-more-than-1-billion/

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Groupement ADAS is a Team of innovative companies with over 20 years experience in the field of technologies used in assistance driver systems (design, implementation and integration of ADAS in vehicles for safety features, driver assistance, partial delegation to the autonomous vehicle).

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Thierry Bapin, Pôle Mov'eo
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Groupement ADAS is empowered by Mov'eo French Automotive competitiveness cluster

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