Aptiv, a leading supplier of automotive parts, agreed to acquire Wind River from TPG Capital, the private equity platform of global alternative asset management firm TPG, for $4.3 billion in cash.
Wind River is a global leader in delivering software for the intelligent edge. Used on over two billion edge devices across more than 1,700 customers globally, Wind River’s software enables the secure development, deployment, operations and servicing of mission-critical intelligent systems. Wind River generated approximately $400 million in revenues in 2021.
Aptiv said it plans to combine the Wind River Studio offering with its complementary SVA platform and automotive expertise to extend its position in automotive software solutions, providing automotive customers with a faster and economical path to full vehicle software architecture. Led by Kevin Dallas, Wind River will continue to operate as a stand-alone business within Aptiv as part of the Advanced Safety & User Experience (AS&UX) segment.
“The automotive industry is undergoing its largest transformation in over a century, as connected, software-defined vehicles increasingly become critical elements of the broader intelligent ecosystem,” said Kevin Clark, president and chief executive officer of Aptiv. “Fully capitalizing on this opportunity requires comprehensive solutions that enable software to be developed faster, deployed seamlessly and optimized throughout the vehicle lifecycle by leveraging data-driven insights. These same needs are driving the growth of the intelligent edge across multiple end markets. With Aptiv and Wind River’s synergistic technologies and decades of experience delivering safety-critical systems, we will accelerate this journey to a software-defined future of the automotive industry. In addition, we are committed to further strengthening Wind River’s competitive position in the multiple industries it serves. We look forward to welcoming the world class Wind River team to the Aptiv family as we continue to develop a safer, greener and more connected world.”
“Wind River has established itself as a worldwide leader in cloud-native, intelligent edge software that delivers the highest levels of security, safety, reliability and performance,” said Kevin Dallas, president and chief executive officer of Wind River. “Combining Wind River’s industry-leading software, customer base and talent with Aptiv’s complementary technologies, global resources and scale will realize our vision of the new machine economy. Together we will accelerate the digital transformation of our customers across industries through best-in-class intelligent systems software. We look forward to working with the Aptiv team to reach even greater heights and provide further growth opportunities for our customers and partners.”
https://www.windriver.com/news/press/news-20220111
Intel spins out Wind River
Intel has agreed to sell its Wind River subsidiary to TPG, a global alternative asset firm. Financial terms were not disclosed.
Wind River noted that its software "runs the computing systems of the most important modern infrastructure, including manufacturing plants, medical devices, aircraft, railway, automobiles, and communications networks."
“This acquisition will establish Wind River as a leading independent software provider uniquely positioned to advance digital transformation within critical infrastructure segments with our comprehensive edge to cloud portfolio,” said Jim Douglas, Wind River President. “At the same time, TPG will provide Wind River with the flexibility and financial resources to fuel our many growth opportunities as a standalone software company that enables the deployment of safe, secure, and reliable intelligent systems.”
Wind River President, Jim Douglas, and his existing executive management team will lead the newly independent Wind River after the transaction closes.
