VWs Cariad unit to buy paragons AI subsidiary

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BERLIN – Volkswagen Groups software unit Cariad has agreed to buy automotive supplier paragons artificial intelligence specialist subsidiary, paragon said in a statement. Both parties agreed to a purchase price of 40 million euros ($42.09 million) for paragon semvox, the statement said. The subsidiary has supplied VW Group with AI-based solutions for voice control and human-machine interaction for many years, the supplier said. The closing of the transaction is expected in spring 2023, subject to various conditions, in particular the reservation of antitrust approvals, according to paragon.

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