San Francisco, June 11 (IANS) Chip-maker Nvidia is acquiring DeepMap, a startup dedicated to building high-definition maps for autonomous vehicles (AV), for an undisclosed sum.
DeepMap was founded five years ago by Wu and Mark Wheeler, veterans of Google, Apple and Baidu, among other companies.
The US-based company has developed a high-definition mapping solution that has already been validated by the AV industry with a wide array of potential customers around the world, Nvidia said in a statement late on Thursday.
"The acquisition is an endorsement of DeepMap's unique vision, technology and people," said Ali Kani, vice president and general manager of Automotive at Nvidia.
The acquisition is expected to close in the third calendar quarter of 2021.
?"DeepMap is expected to extend our mapping products, help us scale worldwide map operations and expand our full self-driving expertise," Kani added.
Nvidia will continue working with DeepMap's ecosystem to meet their needs, investing in new capabilities and services for new and existing partners.
"Joining forces with Nvidia will allow our technology to scale more quickly and benefit more people sooner," said James Wu, co-founder and CEO of DeepMap.
Nvidia DRIVE is a software-defined, end-to-end platform that enables continuous improvement and deployment via over-the-air updates.
DeepMap's technology will bolster the mapping and localisation capabilities available on DRIVE, ensuring autonomous vehicles always know precisely where they are and where they're going, the company said.