During the beginning of 2019 the market has witnessed new car technologies leading the news thanks to large companies pushing the boundaries of OEMs over the traditional ownership of vehicles according to Hampleton Partners' newest report covering Automotive Technology M&A.
Hampleton Partners, the international technology mergers and acquisitions and corporate finance advisors, noted that deal volumes were stable at just under 50 transactions. In addition, investments by Uber, Amazon and Tesla – plus on-going rumours of Apple’s development of an autonomous vehicle software system – garnered the headlines. Not only did they invest in core automotive technology; they also targeted the supporting industries which will allow autonomous and electric vehicle technology to go mainstream.
Pre-IPO Uber strengthened its geographic reach with the acquisition of Careem for $3.1 billion – the largest autotech deal recorded so far in 2019 (subject to regulatory approval) and an opportunity for Uber to own the digital mobility markets of the Middle East.
Amazon led a $700 million financing round into electric vehicle start-up, Rivian, to help scale a serious competitor to Tesla. Amazon also participated in the $530m funding round into Aurora, a self-driving car technology unicorn.
Meanwhile, Tesla, the pioneer in electric vehicles, acquired additional battery know-how by snapping up Maxwell Technologies to strengthen its leading position in this growth market.
Over the past 30 months, there were 236 active acquirers, with 44 of those making more than one purchase. The most acquisitive companies were KAR Auction Services (five acquisitions), Daimler (five) and Ford (four).
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