VCI Global Secures Strategic Acquisition of Lux-Motion, Entering US$350 Billion Automotive E-Commerce Market.

VCI Global Signs Definitive Agreement to Acquire Lux Motion, Expanding into US $350 Billion Automotive Market

VCI Global, a leading provider of vehicle-to-everything (V2X) and autonomous vehicle (AV) solutions, today announced that it has signed a definitive agreement to acquire Lux Motion, a pioneering developer of autonomous vehicle technologies. The acquisition marks a significant milestone for VCI Global, as it expands its presence into the lucrative US $350 billion automotive market.

Under the terms of the agreement, VCI Global will acquire Lux Motion's cutting-edge AV technology, which includes advanced computer vision, machine learning, and sensor fusion capabilities. The acquisition is expected to strengthen VCI Global's position in the autonomous driving market, enabling the company to offer a comprehensive suite of solutions to automotive manufacturers, Tier 1 suppliers, and mobility service providers.

"We are thrilled to welcome Lux Motion to the VCI Global family," said [Name], CEO of VCI Global. "The acquisition of Lux Motion's technology and talent will enable us to accelerate the development of our V2X and AV solutions, positioning us for success in the rapidly evolving automotive market. We look forward to working with the Lux Motion team to deliver innovative solutions that transform the future of transportation."

Lux Motion's technology has been recognized for its innovative approach to autonomous driving, with applications in areas such as advanced driver-assistance systems (ADAS), autonomous delivery, and mobility-as-a-service (MaaS).

"We are excited to join forces with VCI Global, a company that shares our passion for innovation and customer-centricity," said [Name], CEO of Lux Motion. "The combination of our technologies and expertise will enable us to accelerate the development of autonomous vehicle solutions that meet the evolving needs of the automotive industry. We look forward to working with the VCI Global team to drive growth and success."

The acquisition is expected to close in the coming months, subject to customary closing conditions. Financial terms of the deal were not disclosed.