UL Acquires kVA, Autonomous Vehicle Safety And Advisory Business
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.