Aptiv Announces the Acquisition of Wind River From TPG

January 11, 2022

News

Aptiv PLC announced a definitive agreement to acquire Wind River from TPG Capital, the private equity platform of global alternative asset management firm TPG, for $4.3 billion in cash.

Wind River is a global provider of software for the intelligent edge. Used on over two billion edge devices across more than 1,700 customers globally, Wind River’s software enables the secure development, deployment, operations, and servicing of mission-critical intelligent systems. This edge-to-cloud software portfolio spans the aerospace and defense, telecommunications, industrial, and automotive markets and is anchored by Wind River Studio, a highly versatile, comprehensive cloud-native intelligent systems software platform that enables full product lifecycle management for edge-to-cloud use cases. Wind River generated approximately $400 million in revenues in 2021.

The acquisition allows Aptiv to execute against the large software-defined mobility opportunity and expand into multiple high-value industries with Wind River’s team and intelligent systems software platform.

The combination will enable multiple end-use innovations and applications, particularly as compute and processing continue to move closer to the edge and connected devices, including vehicles, expand in complexity and capabilities. Aptiv will combine Wind River Studio offering with its complementary SVA™ platform and automotive expertise to extend its position in automotive software solutions, providing automotive customers with a faster and economical path to full vehicle software architecture. 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 (AS&UX) segment. 

Aptiv will finance the transaction through a combination of cash and debt. The acquisition is expected to close mid-year 2022 and is subject to customary conditions, including receipt of applicable regulatory approvals.  

Goldman Sachs & Co. LLC is serving as exclusive financial advisor to Aptiv and Paul, Weiss, Rifkind, Wharton & Garrison LLP and Covington & Burling LLP are serving as legal advisors. Morgan Stanley & Co. LLC is serving as exclusive financial advisor to Wind River and Ropes & Gray LLP is serving as legal advisor.

For more information, visit: www.windriver.com/news/press/news-20220111