DMP to buy VC-backed Ushr
Summary
Upon closing, the deal will establish a single, enhanced platform for accelerated development and delivery of high-definition (HD) mapping solutions for autonomous vehicles and advanced driver-assistance systems. “The success we’ve experienced at Ushr since inception in an extremely dynamic and competitive market environment has been rewarding and we look forward with excitement to the next chapter of growth for the combined businesses upon closing.” In 2017, EnerTech spearheaded the strategy and spinout of GeoDigital’s automotive mapping business unit to form Ushr, providing the opportunity, independence and resources needed for success in the rapidly evolving market for advanced mobility solutions. “The features and functionality that will redefine ‘driving’ in the coming years are being sourced from new providers including young technology companies that may or may not have started life in the auto industry,” said Bob Lutz, former Vice Chairman of General Motors and Member of Ushr’s Board of Directors. “Investors like EnerTech, who provide the vision, resources, expertise, and patience needed to help these companies recognize and seize new opportunities, are critical to the success of future developments in advanced mobility markets.”