Aptiv Acquiring Software Developer Wind River for $4.3B

In a deal underscoring the growing importance of software in vehicles, Aptiv will spend $4.3 billion to acquire the software firm Wind River from a hedge fund, TPG Capital of Fort Worth, TX. "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," says Kevin Clark, Aptiv president and CEO. "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," says Clark (pictured, below left). "In addition, we are committed to further strengthening Wind River's competitive position in the multiple industries it serves." Aptiv will finance the $4.3 billion transaction through a combination of cash and debt. The acquisition is expected to close mid-year 2022 and is subject to customary conditions, including regulatory approvals.