Expansion increases UL’s global footprint and expertise in automotive services
“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.”
kVA is a privately-owned company with a client portfolio that spans some of the largest global OEMS, automotive suppliers and developers of new autonomous automotive technology. The company has deep experience providing best-in-class functional safety training and advisory services to the automotive industry to meet regulatory requirements and help companies ensure their products will be commercially competitive.
kVA’s employees based in Royal Oak, Mich., Greenville, S.C., and Portland, Ore., will join UL’s Energy and Power Technologies division.
“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.