Lear purchases Arada Systems
Arada Systems is an automotive technology company located in Troy, Michigan. Its specialty is communications from Vehicle-to-Vehicle as well as Vehicle-to-Infrastructure (V2X).
The acquired software as well as hardware solutions will allow Lear to conduct short range communications, such as wireless communications protocols as well as GPS.
"Lear is a leader in managing power and distributing signals within a vehicle," Matt Simoncini, Lear's president and CEO, said. "The acquisition of Arada Systems, in addition to our recent acquisition of technology from Autonet Mobile, adds software and hardware capabilities to our portfolio to securely facilitate wireless communications between the vehicle and external networks as well as other vehicles."
Simoncini then spoke to the growth opportunities the acquisition brings.
"We see excellent growth opportunities for our electrical business as the connectivity mega-trend drives increased requirements for data and signal management to meet rapidly growing demand for more connectivity and communication features in vehicles."
Lear provides supplies to all of the major automakers around the world. More than 300 vehicle nameplates feature content from Lear. The company’s products are planned, developed and produced by an estimated 135,000 employees based throughout 35 different countries. As of today, Lear is No. 174 on the list of Fortune's top 500 companies.