Aptiv Snaps Up Software Firm Wind River From TPG for $4.3 billion

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Aptive Building, Krakow, Poland, June 3, 2019.

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Jan Orlowski | Dreamstime.com

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Auto tech supplier Aptiv has signed a deal to buy software company Wind River from TPG Capital for $4.3 billion in cash.

Wind River manufactures software for companies in the aerospace, defense, telecommunications industrial and automotive sectors and is used on more than two billion devices in more than 1,700 customers globally, the two companies said in a statement. Statement on Tuesday.

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“The automotive industry is undergoing its biggest transformation in a century, as connected, software-defined vehicles become increasingly important elements of the broader intelligent ecosystem,” said Kevin Clark, chief executive of Aptiv.

According to FactSet, shares of Aptiv (ticker: APTV), which were not active premarket, have risen 13.40% during the past 12 months, while the S&P 500 has gained nearly 24%.

The deal, which is expected to close by mid-year, will be financed with a mix of cash and debt. The companies said Wind River will operate as a stand-alone business within Aptiv.

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