Transport Topics (May 29, 2023)
Embark Technology is set to be acquired by fellow autonomous vehicle software company Applied Intuition, the companies announced May 25. The deal puts the equity value at about\xa0 $71 million. Applied Intuition will provide an all-cash transaction as part of a definitive merger agreement signed by the companies. Applied Intuition aims to integrate internal tools, data and software assets gained in the deal to further improve its offerings for customers in the trucking and automotive industries. Embark is an autonomous trucking software company that was founded in 2016.\nLearn more about your ad choices. Visit podcastchoices.com/adchoices