AutomotiveBusinessWorld

Ford announces acquisition of Journey Holding

Ford Motor Co. has announced the acquisition of Journey Holding Corp., a company that provides transportation systems software that the automaker will use to speed development of autonomous vehicle services. Journey Holding will merge with TransLoc, a software provider to transit agencies acquired by Ford in 2018. Journey CEO Justin Rees will head the operation, which will include over 200 workers. The financial terms of the agreement remain undisclosed. Brett Wheatley, Vice President, Ford Mobility marketing and growth, commented that the combination of the two transit technology companies would facilitate the company’s efforts to assist cities in delivering more seamless, productive, and accessible transportation solutions to citizens and visitors.

Journey Holding was established in 2018 following a merger of DoubleMap Inc. and Ride Systems. The two companies were engaged in automatic vehicle location services to airports, universities, municipalities, hospitals, and corporate fleets prior to the merger. Wheatley also mentioned that the assimilation of Journey with TransLoc would give customers access to other mobility solutions in their portfolio, such as Spin e-scooters and the GoRide Health service. Ford has been exploring several other mobility services areas. Ford recently announced its plans to acquire Quantum Signal AI, a company that has been in existence for two decades and has garnered experience after working with the U.S. military on sniper simulations and remote-controlled sentinel robots. The automaker is also working on launching a Level 4 autonomous vehicle at scale that will be employed for services like package delivery, scheduled for commercial deployment in the year 2021.

Ford has also launched autonomous pizza delivery and grocery delivery services along with the purchase of the Spin electric-scooter company and is planning the expansion of its GoRide Health hospital services. However, not all of its attempts have been successful. Earlier this year, Ford shut down Chariot, an on-demand shuttle service that it bought for $65 million in 2016. It has also announced a second-quarter loss of $181 million on its investment in the software firm Pivotal, following a steep drop in its stock.

Tags

Eric

Eric has been working for world chronicle since the company’s birth. Having exceptional writing skills, he is well read in several disciplines including literature, history, politics, and science.

Related Articles

Close