Aptiv drops on $4.3 bln deal to buy software firm Wind River

Core AI Holdings

11/01/2022 14:38

** Auto parts supplier Aptiv PLC's shares  APTV.K  drop
nearly 4% to $158.66
    ** Stock set for third straight session of losses
    ** Co says it will buy software firm Wind River from TPG
Global's private equity arm for $4.3 bln in cash  urn:newsml:reuters.com:*:nL4N2TR2DM
    ** Wind River makes software for companies in the aerospace
and defense, telecommunications, industrial and automotive
sectors
    ** The company generated nearly $400 mln in revenue last
year
    ** APTV says deal will help it expand into software mobility
markets and multiple industries 
    ** On Refinitiv, 19 of 29 brokerages rate the APTV stock
"buy" or higher, five "hold" and the rest "sell"; their median
PT is $199.50
    ** As of last close, APTV was up marginally this year, after
gaining nearly 27% in 2021

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com;))