Ford Acquisition Has Roots in Indianapolis
photo courtesy of Ride Systems
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowFord Motor Co. (NYSE: F) is taking another step in its driverless vehicles effort with the acquisition of a tech company with roots in Indianapolis. Ford Smart Mobility LLC is buying Journey Holding Corp, which is the successor company to Indianapolis startup DoubleMap Inc.
Journey develops tracking software and other app-based technology for the public transportation industry. The company was created by the merger in January of DoubleMap and Utah-based Ride Systems LLC.
Ford says Journey will integrate with FSM subsidiary TransLoc, with Journey Chief Executive Officer Justin Rees leading the new operation. Ford acquired the companies as it moves to speed up development of systems needed for autonomous vehicles, said Brett Wheatley, Ford vice president of mobility marketing and growth.
“The combination of these transit technology companies will accelerate our efforts to help cities deliver more seamless, productive, and accessible transportation solutions to their citizens and visitors,” said Wheatley.
Wheatley says the new tech company will accelerate Ford’s delivery of transportation solutions for cities, universities, and other businesses with transit operations. The terms of this acquisition are not being disclosed.
In 2017, DoubleMap was awarded Scale-up Company of the Year during the annual TechPoint Mira Awards celebration. Inside INdiana Business spoke with DoubleMap co-founder Peter SerVaas at the ceremony which you can watch in the video below courtesy of TechPoint.