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.