Ford has purchased technology start-up Livio “to accelerate the streaming of information into future vehicles and establish a technical standard other automakers and suppliers can use”, Detroit Free Press reports.
Ford Chief Technology Officer Paul Mascarenas and Livio Founder Jake Sigal announced the deal valued at less than $10 million.
Exact terms were not disclosed.
Mascarenas said Livio becomes a subsidiary of Ford’s global electronics division and will keep its name.
Livio will retain its workforce of 11 engineers and software developers who will work with Ford’s AppLink engineers to develop a standard for integrating radio apps in vehicles.
Source: Detroit Free Press
