Deals: Woven Planet Buys Renovo Motors

Woven Planet Holdings, Inc. a subsidiary of Toyota Motor Corporation, announced the acquisition of Renovo Motors, Inc., a pioneering Silicon Valley-based automotive operating system developer. Renovo develops specialized software, which will advance Woven Planet’s mission to enable the most programmable vehicles on the planet with Arene and realize the broader vision of “Mobility to Love, Safety to Live.”

The acquisition will add depth to Woven Planet’s resources, particularly for Arene, Woven Planet’s open vehicle development platform, by:

  • bolstering their elite team with top-tier engineers who have deep expertise in building a complete software-defined vehicle infrastructure stack
  • providing a platform and software that are proven to work across multiple original equipment manufacturer (OEM) platforms, well-aligned with the goal of establishing a hardware-agnostic operating system
  • bringing a robust, established technology ecosystem of industry partners

Following on the heels of recent acquisitions made this year, Renovo complements Woven Planet’s strategy to bring together world-class talent and expertise in automated driving technology, next-generation mapping, and vehicle operating systems, ensuring that Woven Planet can power the future of mobility.

COMMENT FROM NIKOS MICHALAKIS, SENIOR VICE PRESIDENT OF SOFTWARE PLATFORM, WOVEN PLANET HOLDINGS

“The acquisition of Renovo supports Woven Planet’s work in transforming worldwide mobility. A key part in delivering our ‘Mobility to Love, Safety to Live’ vision is to enable the most programmable vehicles on the planet – opening vehicle programming to everyone by simplifying vehicle software development and increasing deployment frequency without compromising safety and security. With Renovo having deep roots in the space, we immediately recognized the opportunity and inherent value of the company. The technical and cultural fit could not have been better and all of us are excited to bring our expertise and technology together to power a new era of automotive technology.”

COMMENT FROM CHRISTOPHER HEISER, CEO, RENOVO MOTORS

“We are in awe with what the Woven Planet team has been building – and are thrilled to join them in creating holistic mobility solutions that will truly benefit humankind. We are united around a singular goal to connect the most ubiquitous software and automotive technology in the industry. In Woven Planet and Toyota, we’ve found partners committed to doing exactly what we have always wanted to do on a global scale, and that’s a great feeling.”

About alastair walker 7107 Articles
20 years experience as a journalist and magazine editor. I'm your contact for press releases, events, news and commercial opportunities at Insurance-Edge.Net

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