Aptiv said Tuesday it has agreed to buy U.S. software company Wind River from private equity firm TPG Capital for $4.3 billion in cash.
Wind River makes software for companies in the aerospace and defense, telecommunications, industrial and automotive sectors. The company's 2021 revenue was about $400 million.
Aptiv said it would finance the deal through a combination of cash and debt.
"The automotive industry is undergoing its largest transformation in over a century, as connected, software-defined vehicles increasingly become critical elements of the broader intelligent ecosystem," Aptiv CEO Kevin Clark said in the statement.
"Fully capitalizing on this opportunity requires comprehensive solutions that enable software to be developed faster, deployed seamlessly and optimized throughout the vehicle lifecycle by leveraging data-driven insights."
