Automotive technology supplier Aptiv said Tuesday it has agreed to buy software firm Wind River from private equity firm TPG Capital for $4.3 billion in cash.
Wind River makes software for companies in the aerospace and defense, telecommunications, industrial and automotive sectors. The company’s 2021 revenue was about $400 million.
Aptiv said it would finance the deal through a combination of cash and debt.
“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,” Aptiv CEO Kevin Clark said in a statement.
“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.”
Wind River will operate as a stand-alone business within Aptiv.
Aptiv ranks No. 19 on the Automotive News list of the top 100 global suppliers with worldwide sales to automakers of $11.5 billion in 2020.
Automotive News contributed to this report.
