Morton Based Self-Driving Tech Company, AutonomouStuff, Acquired by Swedish Engineering Firm
Morton Based self-driving tech firm, AutonomouStuff has been acquired for an undisclosed sum by Swedish Engineering Company, Hexagon AB. AutonomouStuff will continue to operate independently, with Hexagon integrating the company's technology into their Positioning Intelligence Division.
AutonomouStuff was founded in 2010 by Bobby Hambrick and the company had previously not accepted any funding from investors. In 2017 AutonomouStuff saw revenue of $45M and the company has served over 2,500 customers worldwide since inception.
AutonomouStuff's technology allows its clients to develop and test autonomous features on a wide variety of vehicles. The company is widely recognized in the industry for its ability to deliver reliable, high-quality, turn-key solutions.
“We will continue to provide to provide our world-class products and services to our clients just like we always have. This acquisition will position AutonomouStuff to continue growing in a very fast moving global market," Holly Tatum, Director of Marketing at AutonomouStuff told AdaptBN in a comment.
At a conference with one of the partners, Baidu, a multi-billion dollar Chinese tech company, in April 2017 AutonomouStuff's single technician was able to retrofit a Lincoln MKZ with self-driving enabling sensors in 3 hours. According to GPSWorld, this process would have typically taken a whole team of technicians up to 6 weeks.
"The acquisition of AutonomouStuff accelerates Hexagon's ability to move our customers beyond the data impasse of IoT," said Ola Rollén, Hexagon President and CEO in a statement. "We're particularly interested in technologies that are the most disruptive – those capable of leveraging the vast potential of data being generated by connected things, integrating AI, Edge-Cloud Orchestration, Mobility, and Data Visualisation into autonomous connected ecosystems."
In conjunction with the acquisition announcement, AutonomouStuff announced that they were quadrupling their facility in Morton. The new space will allow them to continue growing and hire more employees.
The company currently employs 75 people worldwide, with 66 in Morton. AutonomouStuff's website currently lists 12 job openings.
Hexagon AB reported over $4.1B in revenue in 2017 and employs over 18,000 worldwide. The acquisition is expected close in the next 30-90 days, pending regulatory approvals.
AutonomouStuff's New Space: