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The 2017 IAA in Frankfurt, Germany starts today!
Come to the Faurecia booth (Hall 5.1, stand B12) to find out all about Parrot Faurecia Automotive solutions for the Cockpit of the Future.
Our demonstrator, based on the Parrot Faurecia Automotive NIS 8200, showcases the combined expertise of Parrot Automotive in electronics and software and of Faurecia in the integration of smart surfaces. With this innovative connectivity system, users are able to access their favorite apps through a multimedia touchscreen.
The HMI Brain runs the different displays while the Simple Box handles vehicle connectivity, telephone connectivity, radio reception and voice recognition.
PARIS, July 2017 - Parrot Faurecia Automotive, a leader in infotainment and connectivity solutions, is proud to announce that its Media Center solution has been selected by a premium European car maker as a line-fit option. The Media Center entered mass production in early 2017 for the European, Chinese, Japanese, Taiwanese and Korean markets.
This standalone ECU is the next generation automotive set-top box. It includes a worldwide TV tuner, an Ethernet router and a multimedia server. The Media Center can receive media content (photo, audio & video) from multiple sources (live TV signal, USB flash drive, vehicle cameras) and stream it through Wi-Fi to consumer tablets (up to 8 devices can be connected at the same time) or via Ethernet to the head unit. The rear passengers can enjoy the content of their choosing via an Android or iOS app, and can even watch the same content simultaneously and echo free thanks to Cinemo's Distributed Playback(TM).
Thanks to its four Parrot-made Octopus 3 tuners and demodulators, the Media Center is able to receive worldwide digital TV standards: DVB-T, DVB-T2, DTMB, ISDB-T full-seg, CMMB, ISDB-T 1-seg and T-DMB. The four antennas handle MRC diversity and can thereby recombine the signal to ensure best-in-class TV reception - even at speeds above 150 km/h (depending on the standard). Additionally, the Octopus 3 chips can perform continuous background scanning enabling a constant update of the Electronic Program Guide while maintaining reception of the current channel. With safety as a prime concern for in-car infotainment, Parrot Faurecia Automotive implemented an anti-distracted driving strategy to prevent any unsafe situation.
At the heart of the Media Center lies the Parrot P7 multimedia processor. Based on a dual-core Cortex-A9, its hardware decoding engine is able to decode full HD video encoded in any used format in broadcast (MPEG2/4, AVS, H.264, etc.). The Media Center overcomes the complexity and worldwide diversity of video codecs as it can transcode any video stream into a single-format output, that is easily decoded by any modern monitor (H.264).
Our Media Center enables rear passengers to make the most of their ride and enjoy all kinds of multimedia content on their tablets, including HD TV at very high speeds. We are proud to bring this unique rear seat entertainment solution to the market.
CEO at Parrot Faurecia Automotive
Following the exclusive talks announced by Parrot on December 6, 2016 for a proposed partnership between its subsidiary Parrot Automotive SAS and Faurecia, and after approval by the works council of the entity and approval from the regulators concerning the concentration of economic interests, the definitive documentation was signed on March 24, 2017.
This partnership, built up around Parrot Automotive SAS (and its subsidiaries Parrot Automotive Asia Pacific and Parrot Automotive Shenzhen), will further strengthen the development potential of this longstanding business for Parrot. It will help drive the commercial deployment of connectivity and infotainment solutions for automotive applications worldwide by bringing together Parrot's expertise, software developments, technologies and patents with Faurecia's strong commercial positions, building on its foundation working alongside global auto manufacturers.
Under this partnership, Faurecia will initially acquire a 20% interest in Parrot Automotive SAS through a reserved capital increase for 27.3 million euros. The price for the new shares has been set based on an enterprise value of 100 million euros for Parrot Automotive. The funds from the capital increase will be deployed for Parrot Automotive's business, notably focusing on further strengthening its R&D and its commercial operations through joint strategic projects. Alongside this, for a total of 41 million euros, Faurecia will subscribe to bonds to be converted into existing Parrot Automotive shares issued by Parrot SA. These bonds, accruing interest with a margin of 200 basis points over the 3-month Euribor rate, will mature on December 31, 2021 and will be convertible from January 1, 2019. The conversion of these bonds would result in Faurecia holding 50.01% of Parrot Automotive SAS’ capital. The funds from the bond issue will be available for Parrot's general needs.
In addition, Faurecia and Parrot SA are covered by call and put options that may be exercised in 2022 allowing Faurecia to acquire or Parrot to sell the remaining Parrot Automotive SAS shares still held by Parrot SA. The exercise price for these options would be fixed based on an enterprise value set on the basis of parameters consistent with those used for this initial investment.
Parrot Automotive SAS’ capital increase will be carried out and the bonds will be issued between now and March 31, 2017 after satisfying the companies’ legal formalities. For the year ended December 31, 2016, the OEM Automotive business (Parrot Automotive SAS and its subsidiaries) is presented as held for sale (IFRS 5), and it will be consolidated on an equity basis once the partnership is fully concluded. The significant positive impact on the Group’s 2016 net result is currently being quantified.