Friday, March 11, 2016

General Motors Acquires Cruise Automation For More Than $1 Billion

San Francisco-based Cruise Automation, a developer of autonomous vehicle technology, has been acquired by General Motors in a deal worth "north of $1 billion". Cruise Automation says is currently testing a fully driverless solution intended to build the "world's largest fleet of driverless cars". The two have not announced details on the deal, but widespread reports, citing sources near the deal, says GM paid nearly $1 billion for Cruise Automation.