M&A Deal Summary

Ford Motor Acquires Argo AI

On February 10, 2017, Ford Motor acquired internet software and services company Argo AI

Acquisition Highlights
  • This is Ford Motor’s 1st transaction in the Internet Software and Services sector.
  • This is Ford Motor’s 5th transaction in the United States.
  • This is Ford Motor’s 1st transaction in Pennsylvania.

M&A Deal Summary

Date 2017-02-10
Target Argo AI
Sector Internet Software and Services
Buyer(s) Ford Motor
Deal Type Add-on Acquisition

Target

Argo AI

Pittsburgh, Pennsylvania, United States
Argo AI is an artificial intelligence company focused self-driving vehicles and technology. Argo AI has engineering hubs in Pittsburgh, Southeastern Michigan and the Bay Area of California.

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Buyer(S) 1

Buyer

Ford Motor

Dearborn, Michigan, United States

Category Company
Founded 1903
Sector Automotive
Employees171,000
Revenue 185.0B USD (2024)
DESCRIPTION
Ford Motor Company's corporate headquarters in Dearborn, Michigan.
Ford Motor Company's corporate headquarters in Dearborn, Michigan.

Ford Motor produces and sells automobiles under the Ford and Lincoln brands. In addition to the products Ford sells to dealerships for retail sale, the Company also sells vehicles to dealerships for sale to fleet customers, including commercial fleet customers, daily rental car companies, and governments. Ford Motor also sells parts and accessories, primarily to dealerships and to authorized parts distributors. Through its dealerships, Ford Motor also offers extended service contracts to retail customers. Ford Motor was founded in 1903 and is headquartered in Dearborn, Michigan.


DEAL STATS #
Overall 9 of 12
Sector: Internet Software and Services M&A 1 of 2
Type: Add-on Acquisition M&A Deals 7 of 9
State: Pennsylvania M&A 1 of 1
Country: United States M&A 5 of 7
Year: 2017 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-09 Chariot

San Francisco, California, United States

Chariot is a crowd-sourced shuttle service. Chariot operates nearly 100 Ford Transit shuttles along 28 routes throughout San Francisco Bay Area. Chariot’s routes are crowd-sourced based on rider demand. Chariot was formed in 2014 and is based in San Francisco, California.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-10 Solid Power

Louisville, Colorado, United States

Solid Power is a developer of next-generation all-solid-state batteries. With considerably higher energy and greatly improved safety, ASSBs has the potential to revolutionize future mobile power markets. Solid Power was founded in 2012 and is based in Louisville, Colorado.

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