Lear Set To Acquire EXO Technologies To Boost GPS Capability
Zacks Investment Research | Dec 11, 2017 08:51PM ET
Lear Corp. (NYSE:LEA) has inked a deal to acquire Israel-based EXO Technologies, engaged in developing innovative software-based solutions for GPS. The acquisition is likely to provide Lear with a different technology to considerably enhance GPS accuracy and reliability. This will in turn improve vehicle safety and assist in autonomous driving.
With its operations in San Mateo, California and Tel Aviv, Israel, EXO Technologies offers precise solutions for autonomous and connected vehicle applications. This tie up is likely to bolster Lear’s connectivity capabilities and aid its E-Systems business, as growth of autonomous and connected vehicles will boost demand for improved reliability and accuracy in vehicle positioning.
Lear is a leading supplier of automotive seating systems, electrical distribution systems and electronics. The company’s shares have outperformed the Zacks Investment Research
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