SOUTHFIELD, Mich., Nov. 30, 2015 /PRNewswire/ -- Lear
Corporation (NYSE: LEA), a leading global supplier of automotive
seating and electrical distribution systems, today announced that
it has acquired Arada Systems, a Troy,
Michigan based automotive technology company that
specializes in Vehicle-to-Vehicle and Vehicle-to-Infrastructure
(V2X) communications.
"Lear is a leader in managing power and distributing signals
within a vehicle. The acquisition of Arada Systems, in
addition to our recent acquisition of technology from Autonet
Mobile, adds software and hardware capabilities to our portfolio to
securely facilitate wireless communications between the vehicle and
external networks, as well as other vehicles," said Matt Simoncini, Lear's president and chief
executive officer. "We see excellent growth opportunities for
our Electrical business as the connectivity mega-trend drives
increased requirements for data and signal management to meet
rapidly growing demand for more connectivity and
communication features in vehicles."
Arada Systems has developed V2X software and hardware solutions
utilizing its expertise in 5.9 GHz dedicated short range
communications and other wireless communications protocols, notably
GPS. Arada has developed software solutions to ensure highly
secure V2X communications and defend against cyber-security
attacks. Arada's V2X products include its LocoMate series of
roadside units for infrastructure and on-board units for
vehicles. Arada has 45 employees, and deployments of its
technology worldwide.
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