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© ginasanders dreamstime.com Components | May 13, 2016

MediaTek to sell Chinese auto IC subsidiary

MediaTek and NavInfo have entered into an agreement under which NavInfo plans to acquire AutoChips, a Chinese subsidiary of MediaTek, for a purchase price of USD 600 million.
The planned acquisition is scheduled for completion in the fourth quarter of 2016. At the same time, MediaTek plans to invest in – or co-invest with NavInfo – an amount of no more than USD 100 million, to cooperate strategically in the fields of Automotive ICs and the Internet of Vehicles.

NavInfo is an independent provider of digital maps, serving the Chinese OEM in-dash navigation market. Its clients include mainstream automakers as BMW, VW, Mercedes, GM, Toyota, Volvo and Great Wall. In addition, NavInfo has long cultivated the IoV market, from providing traditional services such as digital maps, to now providing dynamic traffic information, cloud services, automotive apps, and automotive OS.

MediaTek will along with NavInfo, jointly develop and cultivate the Automotive IC and Autonomous Car markets, and look for opportunities in ADAS and Telematics.

AutoChips is a Chinese subsidiary of MediaTek offering automotive infotainment SoC solutions. The goal of this cooperation is to leverage the strength of AutoChips in hardware and the expertise of NavInfo in software to provide clients with an enhanced infotainment SoC solution, as well as integrated dynamic traffic information, to cultivate the IoV market.
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