Acquisition update
The auto tech segment saw an exciting development recently, when US-based Visteon Corp acquired AllGo Embedded Systems, a maker of multimedia solutions in the automotive industry. The deal is expected to be concluded within 3 months. With this, the Bengaluru-based AllGo valuation will attain Rs. 200 crore($30 million). The latter was founded in 2005 by K Srinivasan.
About AllGo and Visteon
AllGo’s aim is to sell automotive multimedia solutions to carmakers on a global basis. It brings Linux and Android engineering expertise to bring into existence a holistic range of solutions. These include a comprehensive intellectual property(IP) protected portfolio which provides all-round infotainment to users. It has thus revolutionized the audio market by making a whole host of hitherto untapped solutions and opportunities possible. Currently, the startup has over 140 employees based across the world, with a strong international presence.
Visteon, headed by Sachin Lawande, is headquartered in Michigan. It was set up in 2000 and has expanded rapidly ever since. It has substantial relationships with a number of auto giants. Some of these are GM, Chrysler, Nissan and Hyundai. Visteon has also expanded its international profile, and derives a significant share of its revenue from its operations in Asia. This deal itself is likely to greatly enhance Visteon’s infotainment software capabilities by ensuring that AllGo’s expertise provides value-added services to the latter. Among those of AllGo’s innovations which Visteon has found appealing is the turnkey software-on-chip(SoC) solution to allow the vehicle’s audio head unit to seamlessly relay infotainment content. Overall, this will be a huge boost for a company which has over 11,000 employees in 50 facilities in 19 countries.
Conclusion
Providing value-added infotainment solutions to automobile manufacturers has become a huge business, one that is rapidly expanding. This latest tie-up will ultimately benefit car owners who don’t mind shelling out the extra buck to receive high-quality value-added services for low cost.
Visteon’s website can be visited here.
