Lear To Acquire Israel-based GPS Technology Developer EXO

(RTTNews) - Lear Corp. (LEA) Monday announced a definitive agreement to acquire Israel-based EXO Technologies, a developer of GPS technology for autonomous and connected vehicle applications. Financial terms of the transaction were not disclosed.

EXO Technologies that has operations in San Mateo, California, and Tel Aviv, Israel has been developing technologies for high accuracy positioning of vehicle.

Lear said the acquisition of EXO Technologies will provide with a differentiated technology to significantly improve GPS accuracy and reliability, thereby enhancing vehicle safety and enabling autonomous driving.