Applied Intuition Acquires Embark Technology
May 25, 2023
Applied Intuition agreed to acquire autonomous-trucking software developer Embark Technology in an all-cash transaction valued at approximately $71 million. Applied will integrate Embark's software, data and tools to enhance its autonomous-vehicle development platform; Embark plans to retire its test truck fleet and key employees are expected to join Applied.
- Buyers
- Applied Intuition, Inc.
- Targets
- Embark Technology, Inc.
- Industry
- Automotive
- Location
- California, United States
- Transaction Type
- Buyout
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