Bosch acquires Five.ai
Electronics and mobility provider Bosch has reinforced its focus on the development of self-driving cars by acquiring European start-up Five.ai.
Operating out of six UK locations and employing 140 people, Five.ai has been at the forefront of AV development since 2016. The company’s initial plan was to build its own fleet of robotaxis but it pivoted to focus on AV technology development in 2020.
The agreement between the two companies was signed at the beginning of April and is still subject to authority approval. Although financial details have not been disclosed, it is known that Bosch won out over other takeover bidders.
“Automated driving is set to make road traffic safer. We want Five to give an extra boost to our work in software development for safe automated driving, and offer our customers European-made technology,” says Dr. Markus Heyn, member of the Bosch board of management and chairman of the Mobility Solutions business sector. Headquartered in Cambridge, U.K., Five is to be part of the Bosch Cross-Domain Computing Solutions division. “Scale matters in building automated driving technology. Bosch is a global leader in driving assistance technologies, with core technologies and vast data lakes that will be essential in bringing safe self-driving systems to market. We’re excited for Five to become part of Europe’s most powerful SAE Level 4 player and to be a part of Bosch’s future success,” says Stan Boland, the CEO of Five.
Last month, Bosch acquired high-resolution, 3D mapping company Atlatec, which it plans to integrate into its Cross-Domain Computing Solutions division along with Five.ai.
Image courtesy of Bosch