Direct Line and Sistema are exiting Five, a developer of self-driving software testing technology, in a deal intended to give Robert Bosch an end-to-end autonomous driving technology offering.
Industrial technology manufacturer Robert Bosch agreed on Tuesday to acquire UK-based autonomous driving technology developer Five for an undisclosed sum, providing exits for conglomerate Sistema and insurance provider Direct Line.
Founded in 2015, Five has developed software for use in testing Level 4 autonomous driving systems, where the vehicle can drive itself but a passenger can manually intervene.
Bosch said its bid was preferred over unnamed other takeover bids, and TechCrunch has reported that, due to sanctions, the sale proceeds…
Fernando Moncada Rivera
Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
