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Luxoft and LG Electronics to Form Joint Venture to Enable Digital, Consumer-grade Experiences in Automotive

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Luxoft, a DXC Technology Company (NYSE:DXC), and LG Electronics (LG) today announced that they will form an automotive joint venture to advance the deployment of production-ready digital cockpit, in-vehicle infotainment, rear-seat entertainment (RSE) and ride-hailing systems based on the webOS Auto platform.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200110005090/en/

LG Electronics and Luxoft Joint Venture Agreement Signing Ceremony, January 7, 2020 (From left) Heewon Choi (VP, SW Business PMO, LG Electronics), Jonggyu Kim (President of Zenith and SVP of LG Electronics), I.P. Park (CTO of LG Electronics) (From right) Markus Kissendorfer (SVP, Automotive Sales, Luxoft), Vildan Hasanbegovic (Director, Automotive Partnerships, Luxoft), Mikhail Bykov (SVP, Automotive Solutions, Luxoft) (Photo: Business Wire)

LG Electronics and Luxoft Joint Venture Agreement Signing Ceremony, January 7, 2020 (From left) Heewon Choi (VP, SW Business PMO, LG Electronics), Jonggyu Kim (President of Zenith and SVP of LG Electronics), I.P. Park (CTO of LG Electronics) (From right) Markus Kissendorfer (SVP, Automotive Sales, Luxoft), Vildan Hasanbegovic (Director, Automotive Partnerships, Luxoft), Mikhail Bykov (SVP, Automotive Solutions, Luxoft) (Photo: Business Wire)

The JV will bring together one of the industry's most innovative automotive software engineering providers with one of the world's leading innovators in technology and home entertainment.

“This new venture reinforces Luxoft’s capabilities in the design, development and deployment of large-scale digital cockpit and connected mobility solutions based on open platforms,” said Dmitry Loschinin, executive vice president, DXC Technology, and president and CEO, Luxoft. “The combined strengths of LG and Luxoft will create invaluable synergy to deploy webOS Auto, the platform for digital, consumer-grade experiences to automakers and their key partners.”

Luxoft will lead the deployment of webOS Auto platform in production-ready systems in automotive by contributing its global delivery network and its engineering at-scale delivery organization.

“The JV builds on the long-established and successful relationship between the two companies, creating a great synergy effect in next-generation customer experiences,” said Dr. I.P. Park, president and CTO of LG Electronics. “Luxoft’s combined capabilities and execution with its global delivery network will accelerate the deployment of webOS Auto in production-ready systems.”

Automakers and their key partners, fleet operators, and shared mobility services providers can already deploy webOS Auto to large-scale series production systems, including:

  • Digital Cockpit systems;
  • Rear Seat Entertainment (RSE) for traditional needs;
  • Rear Seat Entertainment (RSE) with ride-hailing mode; and
  • Cabin and center stack display for ride-hailing systems.

It is anticipated that the JV will commence operations in the first quarter of 2020. The transaction is subject to regulatory approval and other customary closing conditions.

About webOS Auto

webOS Auto is an open platform for collaboration and an ideal platform for shared and intelligent mobility. webOS Auto provides unique features and functionality, and incorporates all essential components – such as multimedia processing, multi-display control, connectivity and security – to offer improved comfort and convenience to passengers and drivers.

On August 31, 2018, Luxoft and LG announced a partnership to help create the next generation webOS as part of a strategy to extend its capabilities and ecosystem into the automotive, robotics and smart home verticals. The companies revealed a forward-looking vision for Autonomous and Connected Mobility at CES 2019 to create webOS Auto, an open platform for shared and intelligent mobilty, extending the capabilities and ecosystem of webOS into the automotive market.

Luxoft at CES® 2020

Visit Luxoft at CES for a personal, hands-on experience of Luxoft HALO, based on the webOS Auto platform, and to experience the future of shared and intelligent mobility; booth #6928, North Hall, Tech East, Las Vegas Convention and World Trade Center.

About Luxoft

Luxoft, a DXC Technology Company, (NYSE:DXC), is a digital strategy and software engineering firm providing bespoke technology solutions that drive business change for customers the world over. Luxoft uses technology to enable business transformation, enhance customer experiences, and boost operational efficiency through its strategy, consulting, and engineering services. Luxoft combines a unique blend of engineering excellence and deep industry expertise, specializing in automotive, financial services, travel and hospitality, healthcare, life sciences, media and telecommunications. For more information, please visit www.luxoft.com.

About DXC Technology

DXC Technology (NYSE:DXC) helps global companies run their mission critical systems and operations while modernizing IT, optimizing data architectures, and ensuring security and scalability across public, private and hybrid clouds. With decades of driving innovation, the world’s largest companies trust DXC to deploy our enterprise technology stack to deliver new levels of performance, competitiveness and customer experiences. Learn more about the DXC story and our focus on people, customers and operational execution at www.dxc.technology.

Cautionary Note Regarding Forward-looking Statements

All statements in this press release that do not directly and exclusively relate to historical facts constitute “forward-looking statements.” These statements represent DXC’s intentions, plans, expectations and beliefs, and are subject to risks, uncertainties and other factors, many of which are outside DXC’s control, and no assurance can be given that the results described in such statements will be achieved. Many factors could cause actual results to differ materially from such forward-looking statements with respect to the transaction announced above including risks relating to unforeseen liabilities, future capital expenditures, inability to achieve expected synergies, loss of revenues, delays or business disruptions. For a written description of risk factors that could cause actual results in DXC’s business to differ materially from forward looking statements regarding those matters, see the section titled “Risk Factors” in DXC’s Annual Report on Form 10-K for the fiscal year ended March 31, 2019, DXC’s Quarterly Reports on Form 10-Q for the quarterly periods ended June 30, 2019 and September 30, 2019, and any updating information in subsequent SEC filings. DXC disclaims any intention or obligation to update these forward-looking statements whether as a result of subsequent event or otherwise, except as required by law.

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