On December 27, 2022, Dentons announced that aiMotive's sale to Stellantis (as reported by CEE Legal Matters on November 30, 2022) had closed.
According to Dentons, “on December 22, 2022, multinational automotive manufacturer Stellantis announced the completion of its acquisition of Hungary-based aiMotive, a leading developer of advanced artificial intelligence and autonomous driving software. The acquisition enhances Stellantis' artificial intelligence and autonomous driving core technology, expands its global talent pool, and boosts the mid-term development of its new STLA AutoDrive platform. Ultimately, the deal is an essential contribution to Stellantis' strategy to become a sustainable mobility technology company in the future.”
As previously reported, Dentons advised aiMotive on its sale to Stellantis. Baker McKenzie advised aiMotive shareholders Szechenyi Funds and Lead Ventures on their exit.
Villey Girard Grolleaud and Noerr reportedly advised Stellantis on the acquisition.
Stellantis aimed to "enhance its artificial intelligence and autonomous driving core technology with the acquisition of aiMotive, a startup company based in Budapest, Hungary, with offices in Germany, the US, and Japan, with over 200 highly skilled employees worldwide," Baker McKenzie informed. According to the firm, "aiMotive will operate as a subsidiary of Stellantis, maintaining its operational independence and start-up culture. It will continue selling three areas of its current technology product portfolio, including aiData, aiSim, and aiWare, to other partners."
The Dentons updated team included Budapest-based Partners Rob Irving and Marcell Szonyi, Senior Associate Kamran Pirani, and Associates Sebastian Ishiguro, Iryna Nahorniak, and Aliz Wulcz as well as Frankfurt-based Partner Gesine von der Groeben and Senior Associate Lieor Koblenz.
Baker McKenzie’s team was led by Budapest-based Managing Partner Akos Fehervary and Munich-based Counsel Tino Marz.