Lear, a US automotive electronics supplier, and EXO Technologies, a developer of GPS technology in Israel, entered into a definitive takeover agreement. Currently, EXO Technologies has strongholds in California and Israel. The two parties are not disclosing the transaction price, but believe that the integration of EXO technology and Lear vehicles, According to GPS World, EXO has developed the high-precision positioning core technology required for vehicles, with its proprietary technology and the existing GPS receiver in place around the world No ground-based base station network is required to provide a degree of centimeter accuracy EXO Software-Based GPS Method PICO Accurate Location Software to Enhance Global Navigation Satellite System (GNSS) Receivers Reduce Navigation by Correcting Satellite Orbit Errors and Clock Errors Nuri Golan, chief executive of EXO, said the company has developed technologies for future connected cars and self-driving and is looking forward to providing car-to-car, autonomous driving and other application solutions. "Lear Executive Long Matt Simoncini believes that the acquisition of EXO Lear will be able to provide differentiated technology to take this Enhance GPS accuracy and reliability.
