Lear Corp. LEA announced the acquisition of automotive technology company, Arada Systems. Based in Troy, MI, Arada Systems focuses on Vehicle-to-Vehicle and Vehicle-to-Infrastructure (V2X) communications. It has expertise in 5.9 GHz dedicated short range communications and other wireless communications protocols which help it develop V2X software and hardware solutions.
The software solutions from Arada Systems provide secure V2X communications and help defend against cyber-security attacks. Its V2X products include the LocoMate series of roadside units for infrastructure and on-board units for vehicles.
Lear Corp. expects this acquisition to boost growth in its Electrical business as the rising demand for connectivity and communication features in vehicles is leading to greater need for data and signal management.
The company frequently undertakes acquisitions to strengthen its business. In Aug 2015, Lear Corp. announced the acquisition of intellectual property and technology from California-based Autonet Mobile. The company also hired some important members of Autonet Mobile’s software and product development team. Autonet Mobile is a developer of software and devices for automotive applications. The acquisition will help Lear Corp. to expand its Electrical business.
Lear Corp. currently carries a Zacks Rank #2 (Buy). Other well-ranked automobile stocks include General Motors Co. GM, O'Reilly Automotive Inc. ORLY and Fox Factory Holding Corp FOXF, all carrying a Zacks Rank #2.
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