Home Car Services Accenture to acquire China automobile tech startup Futuremove Automotive

Accenture to acquire China automobile tech startup Futuremove Automotive


Accenture announced Tuesday that it has agreed to accumulate Futuremove Automotive, a Chinese car connectivity answer company, to reinforce its carrier offerings in the international’s biggest automobile marketplace.

Why it subjects: As in-vehicle technologies and offerings come to be more crucial to customers, automobile connectivity is considered the subsequent frontier for competition among carmakers, specifically in China, where automotive era tendencies are supported through the central authorities.

Accenture to acquire China automobile tech startup Futuremove Automotive 1

Revenue inside the Chinese related vehicle phase is expected to develop at a charge of 16.Five% annually over the following 4 years, in keeping with statistics from Statista. It is estimated that greater than 73 million related motors will hit the roads using 2023, nearly 4 times the current figures.

Beijing has made large bets on V2X (vehicle-to-the whole thing) networking, which helps actual-time communique among motors and site visitors-related elements to lessen traffic accidents, road congestion, and energy intake.

Details: Accenture is obtaining Futuremove Automotive to strengthen its digital consulting in smart linked in-automobile and mobility services to “meet rising demand from China-based totally auto customers,” the company stated in a declaration.
Founded in 2015 via John Wang, a former head of Microsoft’s China vehicle commercial enterprise, Futuremove Automotive develops in-car software and a cloud platform for car connectivity.

It also affords a software program-as-a-service answer for ride-sharing and fleet control. Six out of the pinnacle 10 global luxurious vehicle manufacturers in China are among its customers; Wang said in an interview in advance this 12 months.
The Beijing-based total startup secured almost RMB one hundred million ($14 million) in an overdue 2016 Series A led by the Chinese mission capital firm Photon Fund. This changed into accompanied by rounds of investment in the “tens of thousands and thousands of RMB” led via first by way of Haier Capital in 2017 and Sino Pacific Capital in 2018.

Wang will join Accenture as a senior govt for its virtual transformation answer commercial enterprise, Industry X.0, after the deal is finished. Further information about the transaction was not revealed.

Context: Chinese tech corporations, consisting of Alibaba and Tencent, are scrambling to relaxed a piece of the short-growing vehicle phase.

Huawei joined the competition with the August release of its long-awaited Android opportunity. The Hongxing operating system, which the enterprise said could be aimed toward internet-of-matters packages including wearables, smart audio systems, and in-vehicle offerings.