Honda Subsidiary Acquires Startup Drivemode For Undisclosed Amount
Honda R&D Co., Ltd., a research and development subsidiary of Honda Motor Co Ltd , has acquired all of the outstanding shares of California-based Drivemode, Inc.
The acquisition was completed Sept. 26 when Drivemode became a wholly owned subsidiary of Honda R&D, the Japanese automaker said in a Monday press release.
Drivemode is a startup that develops and operates smartphone-based connected services.
Honda R&D and Drivemode have been collaborating and conducting joint development activities since 2015. The companies are aiming to strengthen value creation in the areas of digital and connected mobility products, according to Honda.
Reported by Benzinga