US-based Visteon Corp to acquire Indian auto multimedia systems supplier AllGo

Visual from AllGo website

US-based automotive cockpit electronics supplier Visteon Corporation has signed an agreement to acquire Bengaluru-based AllGo Systems, a developer of embedded multimedia system solutions for automotive industry, according to a statement.

The agreement, which is subject to customary closing conditions and regulatory approvals, is expected to close during the first quarter of 2016, the statement added.

Financial details of the deal were, however, not disclosed.

“AllGo’s strong position in multimedia and smartphone connectivity software adds greater scale and depth to Visteon’s infotainment software capabilities. AllGo’s ready-to-use IP provides automotive manufacturers with a turnkey software-on-chip solution to cost-effectively introduce smartphone and mobile applications from the vehicle’s audio head unit,” said Sachin Lawande, president and CEO, Visteon.

AllGo is a infotainment media playback supplier, bringing Linux and Android engineering expertise for automotive applications, including a comprehensive intellectual property (IP)-protected portfolio of in-vehicle-infotainment, media and connectivity solutions for the connected display audio market.

“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,” said K. Srinivasan, director and CEO, AllGo Systems.

Founded in 2005, AllGo employs 140 people across India, the U.S., Asia and Europe at present.

“The addition of AllGo’s assets and talented workforce will enable Visteon to accelerate the innovation and penetration of affordable automotive infotainment solutions,” Lawande said.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.