Valeo Acquires A 50% Stake In CloudMade

PARIS, Nov. 10, 2016

CloudMade is a pioneering start-up in machine learning and artificial intelligence, with a focus on designing applications for the car industry. Valeo's investment in the company will provide it with the financial and technological resources it needs to fully achieve its development.

Valeo's expertise in the technologies required to develop driving assistance applications (sensors, cameras and laser scanners) as well as connectivity, human-machine interface and thermal climate control solutions, combined with CloudMade's command of big data processing, artificial intelligence and predictive engines, will allow CloudMade to provide its carmaker customers with solutions to continuously adapt driving assistance functions to the profile of each individual driver. This radically innovative product offering will enhance the user experience in terms of both intuitive driving and in-vehicle well-being.

Valeo is an automotive supplier, partner to all automakers worldwide. As a technology company, Valeo proposes innovative products and systems that contribute to the reduction of CO2 emissions and to the development of intuitive driving. In 2015, the Group generated sales of 14.5 billion euros and invested over 10% of its original equipment sales in research and development. Valeo has 148 plants, 19 research centers, 35 development centers and 15 distribution platforms, and employs 88,800 people in 32 countries worldwide. Valeo is listed on the Paris stock exchange and is a member of the CAC 40 index.

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SOURCE Valeo