GM-Backed Cruise Buys Self-Driving Startup Voyage in Talent Grab
(Bloomberg) -- Cruise LLC, the self-driving technology company that’s majority-owned by General Motors Co., said it acquired autonomous-vehicle startup Voyage, which operates a service in retirement communities.
“I’m pleased to welcome Oliver Cameron and Voyage to the Cruise team,” Cruise President Kyle Vogt announced Monday on Twitter, confirming a Bloomberg News report from early this month. “Voyage is a nimble and highly capable company that shares our mission to make transportation safer & more accessible, and we’re thrilled that they’re joining us.”
The deal gives Cruise more than 60 people trained in developing and running self-driving vehicles, where experience and talent comes at a premium. Cameron, Voyage’s chief executive officer, is joining Cruise as vice president of product.
Cruise’s acquisition of Voyage happens at a time when autonomous-technology companies are consolidating. Zoox Inc. sold to Amazon.com Inc. last year. For Voyage, joining Cruise is a way for Cameron to continue his work with the aid of the acquirer’s 1,800 employees and its deeper pockets.
The purchase price wasn’t disclosed.
While Voyage has raised $52 million, Cruise has raised more than $8 billion and gets about $1 billion a year from GM.
“The self-driving industry is consolidating, and the leaders of a trillion-dollar market are fast emerging,” Cameron said on a blog post on Voyage’s web page. “After being intimately involved with the AV industry for the last five years, I can say with certainty that Cruise -- with its advanced self-driving technology, unique automaker partnerships, and all-electric purpose-built vehicle with no human controls -- is poised to be the clear leader.”
Cameron said that key members of Voyage’s technology team will be working on the Cruise Origin, the company’s dedicated self-driving shuttle.
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