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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