DETROIT — Ford-backed Argo AI, a developer of artificial intelligence software and robotics, is acquiring New Jersey-based Princeton Lightwave.
Ford announced earlier this year that it will invest $1 billion in Argo over the next five years. Both Argo AI and Princeton Lightwave have expertise in lidar, a laser-based sensing system that functions as the “brains” of autonomous vehicles.
“With the addition of the Princeton Lightwave team, Argo is uniquely positioned to innovate in both sensor hardware and the interface between sensor and software — enabling us to achieve performance improvements that would not otherwise be possible,” said Bryan Salesky, CEO of Argo AI.
Ford is investing heavily to put a high volume, fully autonomous vehicle in ride sharing fleets by 2021.
