Aptiv To Acquire Wind River From TPG Capital For $4.3B

Aptiv PLC APTV has agreed to acquire Wind River from TPG Capital for $4.3 billion in cash. Wind River's software enables the secure development, deployment, operations, and servicing of mission-critical intelligent systems.
Wind River generated approximately $400 million in revenues in 2021.
Led by Kevin Dallas, Wind River will continue to operate as a stand-alone business within Aptiv as part of the Advanced Safety & User Experience segment.
"The automotive industry is undergoing its largest transformation in over a century, as connected, software-defined vehicles increasingly become critical elements of the broader intelligent ecosystem," said Aptiv CEO Kevin Clark.
The acquisition is expected to close in the middle of 2022.
Aptiv plans to finance the transaction through a combination of cash and debt. It held $2.7 billion in cash and equivalents as of September 30, 2021.
Price Action: APTV shares closed lower by 2.60% at $165.07 on Monday.