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MarketWatch MarketPulseJun 25, 2019
Apple buys autonomous-car startup Drive.ai: reports
Apple Inc. acquired autonomous-driving startup Drive.ai on Tuesday, according to multiple reports. Apple confirmed the deal to both Axios and the San Francisco Chronicle. The startup was once valued at around $200 million and will cease operations Friday, the Chronicle reported. Apple has hired dozens of Drive.ai hardware and software engineers, Axios said, but a filing with the state of California said 90 employees would be laid off. The startup had offices in California and Texas. A purchase price was not disclosed. The Information reported that the deal was in the works earlier this month. The deal could signal a renewed driverless-car push by Apple. Earlier this year, CNBC reported about 190 workers in Apple's autonomous-car unit, mostly hardware and software engineers, had been laid off.

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