NEW DELHI: Infotainment media playback and connectivity solutions supplier AllGo Embedded Systems has signed a definitive agreement to sell its automotive business and become a 100 per cent owned subsidiary of Visteon Corporation, a global automotive cockpit electronics supplier.
The 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.
Headquartered in Bangalore, India, AllGo Systems brings Linux and Android engineering expertise for automotive applications, including a comprehensive intellectual property protected portfolio of in-vehicle-infotainment, media and connectivity solutions for the connected display audio market.
Employing approximately 140 people across India, the US, Asia and Europe, AllGo’s infotainment solutions have been proven on a range of global vehicle platforms. Post-acquisition, the intention is for AllGo to continue to support their current and future Automotive OEM and Tier1 suppliers worldwide.
“We are looking forward to joining Visteon at this exciting time in the company’s growth in the connected technology space,” said AllGo director and CEO K. Srinivasan. “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 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,” added Visteon President and CEO Sachin Lawande. “We’re looking forward to working with the AllGo team and its customers.”