Posted April 09, 2018 07:17:33As we know, Amazon has been in talks with auto parts company Atlas for several years now.
That acquisition, which will see Amazon acquire a majority stake in Atlas, was announced earlier this year.
But we know now that the deal has been finalized and it will see Atlas’ focus shift to building the best in-vehicle systems.
The deal is expected to close in 2021, according to Bloomberg.
In addition to buying a majority share in Atlas’ automotive division, Amazon will be getting access to Atlas’ vast data warehouse, according a company blog post.
As part of the deal, Atlas will also be able to work with Amazon on some new technologies.
The news comes on the heels of Amazon hiring former executive Rob Lloyd, who previously headed up Amazon’s automotive unit.
In an interview with Reuters last week, Lloyd said that he had been on the “right track” when it came to bringing automotive technology to Amazon.