IRVINE, Calif., Feb. 27, 2024 /PRNewswire/ — Karma Automotive, a luxury electric vehicle (EV) manufacturer based in Southern California, has acquired the technology assets and IP of Airbiquity, a Seattle-based software company specializing in connected vehicle technology. Karma has also hired key technical employees and assumed the software company’s significant OEM contracts.
The acquisition provides Karma with Airbiquity’s software product portfolio that has evolved over more than two decades to deliver connected vehicle solutions spanning over-the-air (OTA) updates, software development tools, data management and analytics.
“We are wrapping Airbiquity’s software into Karma Cloud Services and embedded vehicle technology to create a new platform that is greater than the sum of its parts,” says Karma President Marques McCammon. “Their commercial software meets the needs of a diverse base of transportation industry customers.”
“Airbiquity has mitigated system challenges we wouldn’t necessarily target when designing solely for our own vehicles. Their team and software have deployed in more than 60 countries, in both passenger cars and motorcycles. Moreover, they have serviced the largest OEMs in those sectors. Their design maturity will help codify our strategies for software-defined and continuously connected vehicles.”
The Karma-Airbiquity transaction was completed today. Employees who transition with the deal will immediately start merging the solutions from the two companies.
Karma recently introduced its re-branded vehicle lineup, which ranges from a hybrid (the Revero) to a super coupe EV (Kaveya). Moreover, the lineup includes an all-wheel-drive version that goes 0-60 in under three seconds.
“We are a technology company that manufactures ultra-luxury vehicles,” says McCammon. “Integrating Airbiquity assets into our Karma Connected Cloud Services, which are already a core strength, will fully connect and enable OTA capability for our entire fleet.”
“Other manufacturers are playing catch-up. We are simply producing better technology for our customers.”
The agreement’s terms hinge on closing conditions, and the transaction’s financial terms remain undisclosed.
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