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DXC Technology Co, Luxoft, to Acquire CMORE Automotive; Terms Not Disclosed

Luxoft, a DXC Technology Company (NYSE: DXC), today announced an agreement to acquire CMORE Automotive, an independent services provider dedicated to the development and validation of AI-driven mobility systems.

Benzinga · 03/05/2020 10:23

Luxoft, a DXC Technology Company (NYSE: DXC), today announced an agreement to acquire CMORE Automotive, an independent services provider dedicated to the development and validation of AI-driven mobility systems.

Headquartered in Lindau, Germany, CMORE Automotive acts as a strategic autonomous drive development partner serving major German automakers and their key suppliers in the automotive industry.

Through its network of Advanced Driver Assistance Systems (ADAS) testing facilities in Lindau, Gutmadingen, Böblingen and Eschborn, CMORE Automotive also offers vehicle prototyping and system testing (NCAP, NHTSA) of vehicle active safety features, including those of self-driving cars.

"CMORE Automotive's highly competitive capabilities and services portfolio, along with their development tool chain for autonomous drive, will strengthen Luxoft's capabilities in data-driven development and validation of AD/ADAS for Level 3 to Level 5 autonomous functions," said Dmitry Loschinin, executive vice president, DXC Technology, and president and chief executive officer, Luxoft.

"We are looking forward to becoming part of DXC and its Autonomous Drive team," said Richard Woller, chief executive officer, CMORE Automotive. "Our combined client base, which is increasingly demanding shorter autonomous drive (AD) software engineering cycles, will benefit from end-to-end AI-driven development and validation of AD/ADAS at scale."

Subject to regulatory approvals and other customary closing conditions, the transaction is expected to close during April 2020.