ON MONDAY, Sona BLW Precision Forgings Ltd (Sona Comstar) announced that it has signed an agreement to acquire a 54% equity stake in NOVELIC, a Serbia-based mmWave radar sensor maker; the deal amount has not yet been disclosed.
India-based, global automotive systems & components manufacturer Sona Comstar has nine plants across India, China, Mexico, and the USA.
The revenue of NOVELIC for 2022 and after tax profit is estimated at 9.3 million euros and 2.5 million euros, respectively.
With this deal, Sona Comstar is foraying into the ADAS sensors and software to address the megatrends of increasing vehicle autonomy and automation.
NOVELIC is vertically integrated across the value chain from machine learning and perception software to hardware and chip design.
Sona Comstar said, the Serbian Novelic partners include global automotive OEMs, autonomous vehicle makers, Tier-1s, and chip manufacturers like Infineon and Texas Instruments.
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