Visteon Completes Acquisition of AllGo Systems

Transaction makes Visteon only automotive supplier with vertically integrated multimedia playback and smartphone connectivity technologies for infotainment and display audio systems

VAN BUREN TOWNSHIP, Michigan, July 11, 2016 /PRNewswire/ -- Visteon Corporation (NYSE: VC) today announced the completion of its acquisition of AllGo Embedded Systems Pvt. Ltd., an India-based leading supplier of embedded multimedia and smartphone connectivity software solutions to the global automotive industry. The two companies initially announced plans for the transaction on Jan. 12.

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The business acquired from AllGo supports Visteon's global vehicle cockpit electronics business and enables Visteon to offer a highly integrated solution to automakers that includes multimedia software and codecs, and smartphone connectivity features. The transaction includes AllGo's technology assets and automotive business and approximately 140 employees – mostly software engineers based in India, supported by sales offices in the U.S., Europe and Asia.

"AllGo brings industry-leading multimedia playback and smartphone connectivity software expertise on Linux, QNX and Android-based operating systems, which will greatly strengthen Visteon's capabilities in developing next-generation infotainment systems," said Sachin Lawande, Visteon's president and CEO. "Multimedia playback and smartphone connectivity features such as CarPlay, Android Auto, and MirrorLink are essential for all infotainment and display audio systems and this acquisition positions Visteon uniquely in the industry."

AllGo currently serves a wide range of global automakers and Tier 1 suppliers with particularly strong relationships in Asia. Following its acquisition by Visteon, AllGo will continue to support and grow its existing customer base while also offering its products and services to Visteon's customers, consisting of the world's major vehicle manufacturers.

"The acquisition creates a new global multimedia and smartphone connectivity supplier benefiting from AllGo's entrepreneurial approach and Visteon's global scale," said K. Srinivasan, director and CEO, AllGo Systems. "AllGo's ready-to-use intellectual property-protected portfolio, combined with Visteon's expertise in infotainment and global automaker reach, positions us as the leaders in multimedia and smartphone connectivity solutions."

About AllGo Systems

AllGo Systems, founded in 2005, is a leading product design company focused on providing multimedia middleware solutions for the automotive market. AllGo licenses multimedia and smartphone connectivity software and multimedia codecs to automotive customers worldwide. AllGo's production-proven media and connectivity middleware, along with system integration capabilities, provide a one-stop solution for high quality infotainment software. AllGo has offices in India and the U.S. with sales and support across the globe.

About Visteon

Visteon is a global company that designs, engineers and manufactures innovative cockpit electronics products and connected car solutions for most of the world's major vehicle manufacturers. Visteon is a leading provider of instrument clusters, head-up displays, information displays, infotainment, audio systems, and telematics solutions; its brands include Lightscape®, OpenAir® and SmartCore™. Headquartered in Van Buren Township, Michigan, Visteon has nearly 11,000 employees at more than 40 facilities in 18 countries. Visteon had sales of $3.25 billion in 2015. Learn more at www.visteon.com.

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