US-based automotive seating and electrical systems provider Lear has signed a definitive agreement to acquire Israel-based EXO Technologies.

The financial terms of the agreement were not disclosed.

With operations in California and Israel, EXO Technologies focuses on the development of GPS technology that will provide solutions for autonomous and connected vehicle applications.

Lear president and CEO Matt Simoncini said: “The acquisition of EXO Technologies will provide Lear with a differentiated technology to significantly improve GPS accuracy and reliability, thereby enhancing vehicle safety and enabling autonomous driving.

“We see excellent growth opportunities for our E-Systems business as the proliferation of connected and autonomous vehicles will drive increased demand for improved accuracy and reliability in vehicle positioning.”

“EXO has developed technology that is essential for the future of connected and autonomous vehicles.”

EXO Technologies has developed core technology with existing GPS receivers that provide accurate positioning in a vehicle anywhere on the globe without the need for terrestrial base-station networks.

EXO co-founder and CEO Nuri Golan said: “EXO has developed technology that is essential for the future of connected and autonomous vehicles.

“We are extremely excited to join the Lear family where we will provide unparalleled solutions for Vehicle-to-Vehicle, autonomous driving and other applications.”

The combination is expected to leverage on EXO’s technology and Lear’s vehicle and connectivity expertise to provide a vehicle positioning solution.

Lear provides automotive connectivity solutions such as vehicle-to-vehicle and vehicle-to-infrastructure communications.