Global automotive supplier Lear Corp. in Southfield has acquired Arada Systems, an automotive technology company based in Troy. Terms of the agreement were not disclosed.
“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," says Matt Simoncini, president and CEO of Lear.
Simoncini says the acquisition will help grow Lear’s electrical business as demand for more connected vehicles increases along with added requirements for data and signal management.
Arada Systems develops vehicle-to-vehicle infrastructure, which allows automobiles to wirelessly communicate with roads and traffic signals. The software allows for highly secure communications that are not easily susceptible to cyber security attacks, Simoncini says. Products include a device that works with a smartphone and GPS, and a rearview mirror application that receives traffic safety information from vehicles that have connected car technology, among others.
Arada Systems, founded in 2005, has 45 employees with offices in Troy, California, Canada, Taiwan, India, and Korea. Lear has about 135,000 employees in 35 countries.
In August, Lear acquired intellectual property and technology from Autonet Mobile, a software developer for automotive connectivity applications.
Additionally, Lear recently acquired the historic Hemmeter Building in downtown Detroit’s Paradise Valley and is renovating the structure with plans to transform it into an administrative center. In September, the company purchased a building in Detroit’s Capitol Park, with plans to transform the six-story structure into a design and innovation center.