SOUTHFIELD, Mich., Aug. 17, 2015 /PRNewswire/ -- Lear Corporation
(NYSE: LEA), a leading global supplier of automotive seating and
electrical distribution systems, today announced that it has
acquired intellectual property and technology from Autonet Mobile,
a Santa Rosa, California based
developer of software and devices for automotive
applications. As part of the acquisition, Lear has hired key
members of Autonet Mobile's software and product development
team.
Founded in 2005, Autonet Mobile's technology directly connects
on-board vehicle systems with cloud-based applications using
proprietary data exchange capabilities via cellular
networks.
The acquired intellectual property and technology will
complement Lear's industry-leading wireless capabilities and
provide growth opportunities for Lear's Electrical business.
Combined with Lear's expertise in embedded vehicle electrical
distribution systems and related electronics capabilities, Autonet
Mobile's technology will help connect gateway modules with an array
of features including over-the-air software update
capabilities.
"The acquisition of Autonet Mobile's technology is consistent
with our strategy of adding software capabilities that will
complement our electrical distribution business," said Matt Simoncini, Lear's president and chief
executive officer. "We continue to see excellent growth
opportunities for our Electrical business as consumers demand
greater connectivity features for their
vehicles."
Autonet Mobile will continue to operate and offer products to
the automotive aftermarket through a technology license from Lear.
Financial terms of the transaction were not
disclosed.
About Lear Corporation
Lear Corporation (NYSE: LEA) is one of the world's leading
suppliers of automotive seating and electrical distribution
systems. Lear serves every major automaker in the world, and Lear
content can be found on more than 300 vehicle nameplates.
Lear's world-class products are designed, engineered and
manufactured by a diverse team of approximately 135,000 employees
located in 35 countries. Lear currently ranks #174 on the
Fortune 500. Lear's headquarters are in Southfield, Michigan. Further
information about Lear is available at http://www.lear.com.
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SOURCE Lear Corporation