Dynamic Map Platform to Acquire EnerTech Portfolio Company Ushr
EnerTech’s Vision and Support Recognized as ‘Fundamental’ to Outcome
PHILADELPHIA & TORONTO — (BUSINESS WIRE) — February 12, 2019 — EnerTech Capital (“EnerTech”) today announced the signing of a definitive agreement under which Dynamic Map Platform Co., Ltd. (“DMP”) has agreed to acquire Ushr, Inc. (“Ushr”). Upon closing, the deal will establish a single, enhanced platform for accelerated development and delivery of high-definition (HD) mapping solutions for autonomous vehicles and advanced driver-assistance systems. DMP and Ushr provide high quality HD maps in Japan and North America, respectively. EnerTech, a venture capital firm that invests in energy innovation and technology, is Ushr’s largest financial investor.
“EnerTech’s strategic vision and leadership were fundamental to the founding of Ushr and in reaching this agreement,” said Bruce Gordon, CEO of Ushr. “Their expertise, network, and resources, not to mention their willingness to roll up their sleeves and work as a partner with management and stakeholders have been invaluable.”
Ushr was created in 2017 as a spin out of the automotive mapping business unit of a separate EnerTech portfolio company, GeoDigital, a Canadian company specializing in geospatial mapping services and software. Ushr’s market leading HD map technology was integrated into General Motors’ Super CruiseTM, the industry’s first true hands-free advanced driver assistance system for the highway, and first-to-market...