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Nanterre (France), October 1st, 2018. Faurecia today announced that it had completed the acquisition of 100% of Parrot Faurecia Automotive.
The deal follows the announcement of an agreement between Parrot and Faurecia on July 5 this year regarding Faurecia's proposal to acquire 100% of Parrot Faurecia Automotive. The transaction is based on an enterprise value of € 100 million, identical to that used when Faurecia entered into the capital of Parrot Automotive in 2017.
Founded in 1997, Faurecia has grown to become a major player in the global automotive industry. With 290 sites including 30 R&D centers and 109,000 employees in 35 countries, Faurecia is now a global leader in its three areas of business: automotive seating, interior systems and clean mobility. Faurecia has focused its technology strategy on providing solutions for smart life on board and sustainable mobility. In 2017, the Group posted total sales of €20.2 billion and value-added sales of €17.0 billion. Faurecia is listed on the Euronext Paris stock exchange and is a component of the CAC Next 20 index.
For more information, please visit www.faurecia.com
Virtualized In-Vehicle Android
Berlin/Paris, June 19th, 2018. Parrot Faurecia Automotive, a leader in automotive infotainment and connectivity solutions and OpenSynergy, a specialist in automotive hypervisor technology, are glad to announce their new partnership. Parrot New Infotainment System (NIS) 8X00 will be equipped with OpenSynergy’s COQOS Hypervisor SDK to become a fully scalable platform. Thanks to this technology, the NIS 8X00 can simultaneously run several operating systems on a single SoC (System-on-Chip) – effectively and safely separating Android from safety functions such as displaying tell-tales on the instrument cluster display. As a result, the NIS 8X00 can drive 2 or more displays at once: the digital instrument cluster, the center stack, etc.
OpenSynergy’s COQOS Hypervisor is part of the COQOS Hypervisor SDK that provides virtualization for the car. This highly efficient and reliable hypervisor has been built to meet the specific requirements of demanding automotive applications. It creates virtual machines that can host operating systems like Linux and Android, and also real-time operating systems such as AUTOSAR. It is also able to handle multi-OS window composition on several displays: the center display features an Android window while on the instrument cluster display, RTOS and Linux windows are composed together with an Android window (showing navigation, current music or phone call) – a market first!
Thanks to the COQOS Hypervisor, it is possible to run functions with different requirements regarding real-time behavior and functional safety simultaneously on a single SoC. The Android OS has been virtualized on a powerful SoC, whose GPU has also been entirely virtualized. This Type-1 hypervisor runs directly on the hardware. Its design has been developed corresponding to ISO 26262 requirements. It also prevents interference from the virtual machines. The NIS 8X00 is a full-fledged infotainment system running the latest version of Android with a complete feature set: analog & digital radio, navigation, hands-free telephony, voice recognition, smartphone projected modes (Apple CarPlay, Android Auto), connected services, multimedia content and a very wide range of apps. The NIS 8X00 is open, scalable and can be upgraded wirelessly: from Android Oreo to Android P, Q, etc.
The hypervisor technology enables us to achieve an important milestone in the scalability of our NIS 8X00infotainment platform. We are glad to report that our first NIS 8200 will start production in the latter half of 2019 for a European premium car maker.
Sales & Marketing Director of Parrot Faurecia Automotive
OpenSynergy provides software products for the next generation of vehicles. Our hypervisor platforms and the product line for vehicle communication pave the way for an integrated driving experience. The company is a market leader in the automotive software industry, especially in the area of hypervisors and Bluetooth. Our virtualization technologies enable customers to integrate numerous software systems with different requirements on a single hardware, for use cases, such as, Cockpit Controllers, Body Controllers, Smart Antenna, Telematics Units or Multi-Display Entertainment. OpenSynergy’s vehicle communication platforms ensure a reliable, high-quality connection between devices within the car or between the car and the outside world. First and foremost, this includes OpenSynergy’s Bluetooth Stack Blue SDK, which is used worldwide a million times over. It enables numerous connectivity functionalities.
Read more on www.opensynergy.com
About Parrot Faurecia Automotive
Parrot Faurecia Automotive designs, develops and markets infotainment products for passenger vehicles and commercial trucks. Parrot pioneered Bluetooth in-vehicle hands-free communication and brought the first Android-based car radio to the market. Parrot Faurecia Automotive has proven its experience as a strong contributor to the industry by equipping more than 50M vehicles. Its extensive technology portfolio includes best-in-class analog and digital radio reception, voice recognition and seamless smartphone integration. Parrot’s Android-based infotainment systems cover the front and the rear of the vehicle. Parrot Faurecia Automotive SAS is jointly owned by Parrot SA and Faurecia, one of the world’s largest automotive equipment suppliers.
Parrot Faurecia Automotive & Faurecia will attend together the 2018 CES in Las Vegas. Come to the Faurecia booth (Las Vegas Convention Center - Central Plaza - CP-3) to experience our latest demonstrator.
Faurecia will participate for the first time at CES® Las Vegas (January 9th -12th).
Faurecia will reveal major disruptive innovations for a personalized and safe on-board experience in the versatile, connected and predictive Cockpit of the Future. For the first time the Group will also showcase digital services for health and wellness and for smarter and cleaner cities.
Faurecia will demonstrate its role as a leading systems integrator for changing mobility needs and enhance user experience, together with the rapid expansion of its innovation ecosystem through partnerships, acquisitions and investment in start-ups.
Among the technologies and services highlighted for Smart Life on Board and Sustainable Mobility are:
A fully integrated cockpit of the future demonstrating versatile architecture and smart systems for a safe and personalized user experience for different driving modes.
A connected seat cover for driving professionals incorporating sensors for health and wellness data monitoring. This closed loop comfort system monitors occupant status and applies therapies to improve well-being.
An individualized infotainment thanks to voice assistants into Parrot Automotive’s multi-platform system.
Real time data emissions monitoring with state-of-the-art sensor technology helping cities and fleets to improve air quality.
A selection of start-ups working with Faurecia will also be present on the booth.
A press conference with Faurecia CEO, Patrick Koller, will be held on January 8 at the Mandalay Bay Hotel at 4.00PM (room Surf A-B-C).
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.