General Motors Acquires Cruise for Undisclosed Sum

  • Feed Type
  • Date
    3/14/2016
  • Company Name
    Cruise
  • Mailing Address
    548 Market St. San Francisco, CA 94104 USA
  • Company Description
    Cruise has built the first highway autopilot system that installs on your existing vehicle. It uses sensors and advanced machine vision technology to keep you in your lane and a safe distance from the car in front of you.
  • Website
    http://www.getcruise.com
  • Transaction Type
    M&A
  • Transaction Amount
    Undisclosed
  • Transaction Round
  • Proceeds Purposes
  • M&A Terms
    The Cruise acquisition will help further GM’s automation goals. Though Cruise will remain operationally independent, GM President Dan Ammann tells TechCrunch the car maker intends to integrate Cruise’s technology within its fleet of vehicle brands as soon as possible. Financial terms of the transaction were not disclosed by the companies.