Ford investing $182M in software development company
Automaker will incorporate Pivotal's software development methodology across its IT, product development and engineering teams.
Ford Motor Co.
DEARBORN, Mich. — Ford says it is investing $182 million in a San Francisco software development company called Pivotal.
The Dearborn, Michigan, automaker says the investment will sharpen its software expertise as it moves toward becoming a mobility company. It amounts to about a 6.6% stake in the company.
Pivotal helped Ford develop FordPass, system that gives customers remote access to vehicles through a smartphone app. The system also gives member customers access to parking and car-sharing services.
Ford says it plans to incorporate Pivotal’s software development methodology across its information technology, product development and engineering teams.
Ford and Pivotal also plan to open software labs in the US and Europe.
The deal will close after it is reviewed by government regulators.