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Greenville Business Magazine

UL Acquires kVA, Autonomous Vehicle Safety And Advisory Business

Jun 06, 2019 09:23AM

UL, a global safety science leader, announces the acquisition of kVA, a Greenville, SC, U.S.-based technical and management consulting company that specializes in training and advising automotive developers and suppliers on the safety of autonomous vehicles and electrification of automotive systems. The deal fortifies UL’s expertise in autonomous vehicle testing and certification and offers greater access to its global customers.

“As autonomous vehicle technology continues to advance rapidly, the public’s trust and technology readiness will determine how quickly AVs are adopted,” said Jeff Smidt, VP and GM of UL’s Energy and Power Technologies division. “Functional safety expertise is critical to the adoption and the effective and safe use of autonomous vehicles and technology. The combined entity will enable us to respond to the growing market need for autonomous vehicle and technology services across the globe and build upon UL’s mission to make the world a safer place while helping companies create and protect their product’s brand value.’’

“We are excited to join forces with UL,” said kVA Co-Founder and Managing Partner Bill Taylor. “Together, we will offer our clients best-in-class autonomous vehicle testing and advisory services. Our group’s shared reputation for delivering safe and effective autonomous vehicle testing, training, and advisory services will allow us to significantly accelerate our growth. We can now extend our expertise across global markets and help this global industry deliver on the promise of connected and autonomous vehicles, for a safer and more secure world. This acquisition provides our customers with new access to a broader range of complementary services and expertise.’’

The transaction closed on June 3, 2019. Terms of the acquisition were not disclosed.