an 11 (Reuters) – Auto parts maker Aptiv PLC (APTV.N) said on Tuesday it would buy software developer Wind River from private equity firm TPG Capital for $4.3 billion, seeking to capitalize on a surge in spending by automakers to digitalize their cars.
The all-cash deal will expand Aptiv’s footprint in an area that is fast becoming the next battleground for automakers, which are spending billions of dollars to enable over-the-air updates and add smartphone-like features.
Aptiv, whose customers include Stellantis NV (STLA.MI), Volkswagen AG (VOWG.DE) and General Motors Co (GM.N), battled supply chain problems for much of 2021 but has seen rising demand for its automated driving systems.
Aptiv has forecast 2021 revenue of $15.1 billion to $15.5 billion, which if met, could be its highest in seven years.
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