(Aptiv) Aptiv Plc has agreed to buy private equity firm Wind River from TPG Capital in a cash transaction of $4.3 billion.
The acquisition is expected to allow Aptiv to expand into multiple high-value industries, capitalizing on Wind River’s intelligent systems software platform.
Aptiv CEO Kevin Clark expects the company to accelerate the journey towards a software-defined future in the automotive industry.
Following the deal, Wind River will continue to exist as a stand-alone business within Aptiv.
The transaction is expected to close in mid-2022, and Aptiv will finance the deal through cash and debt.
Wind River’s software is used by more than two billion edge devices by at least 1,700 global customers. The company earned about $400 million in revenues in 2021.
APTV: NYSE closed down -2.60% on Monday.
