Applied Intuition agrees to acquire Embark Technology
Applied Intuition entered an agreement to acquire Embark Technology for autonomous vehicle development software.
Evidence notes
- The transaction valued Embark at about USD 71 million on an equity basis.
- Embark added autonomous trucking software and public-road AV development experience to Applied Intuition.
Company context
Applied Intuition develops simulation, validation and autonomy-development software for intelligent machines. Its public profile spans automotive, defence, trucking, agriculture, construction and mining systems.