Dynamic Map Platform Co., Ltd. (DMP) today announced that it has agreed to acquire Ushr Inc. The deal would result in a single, enhanced platform for accelerated development and delivery of high-definition mapping solutions. Each of the company is providers of accurate, high quality, HD roadmaps in Japan and North America, respectively.
DMP and Ushr share common values of progressing autonomous driving and advanced driver assistance systems (ADAS). We also aim at enhancing occupant safety and comfort through HD map technology,” said Tsutomu Nakajima, President of DMP.
“The integration will allow us to offer automotive OEMs a comprehensive HD mapping solution for the North American and Japanese markets, with the ability to expand globally in the future. Our combination will also let us improve the technologies and expand the area of services, accelerating our customers’ ability to deploy autonomous driving and taking ADAS forward.”
Ushr uses LiDAR and camera technology, which has mapped all controlled access highways in the United States and Canada. Additionally, it represents road features in the map to within approximately four inches of geospatial accuracy.
When used with vehicles that enable autonomous driving, Ushr’s HD maps allow autonomous cars to safely operate on mapped roadways, providing precise lane centering and the ability to anticipate roadway changes. Moreover, its leading HD map technology was integrated into General Motors’ Super Cruise, the industry’s first true hands-free advanced driver assistance system for the highway.
The acquisition would be profitable for Ushr as both the companies share the same passion for realizing the potential of autonomous vehicle technology,” said Bruce Gordon, CEO of Ushr. “Integrating our forces with that DMP will help us to further access the market for self-driving cars and ADAS, particularly as the autonomous tech is expected to grow certainly in the next years. We look forward to partnering with DMP to build on our success moving forward.”
“From a board perspective, we believe this acquisition will form an excellent outcome for Ushr’s stakeholders,” said Scott Ungerer, Chairman of the Board of Ushr. “Once closed, this unique combination will signify a remarkable step providing assistance for advanced mobility solutions.”
Ushr’s investors include GM Ventures, Emerald Technology Ventures, EnerTech Capital and Forte Ventures. The transaction is subject to customary closing conditions, including receipt of regulatory approval. Though, terms of the agreement are yet to disclose.
Evercore is serving as financial advisor to Ushr. While Wilson Sonsini Goodrich & Rosati is acting as legal counsel for Ushr, Squire Patton Boggs is acting as legal counsel to DMP.