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GM Makes $1B Bid for Autonomous Driving

General Motors has reportedly acquired a San Francisco self-driving car startup for more than $1-billion in cash and stock. Launched in 2013, Cruise Automation makes sensors that transform regular vehicles such as Audi S4 and A4 models into ones that can drive themselves.

Cruise Automation co-founder, Kyle Vogt says 40 employees will remain in the City, but he’s seeking to aggressively expand the team as it becomes a part of GM’s newly formed autonomous-driving group.

GM says the acquisition is a “critical building block” to its automation goals, and it plans to rapidly integrate Cruise’s technology within its OEM process and fleet of vehicle brands. The deal, expected to close in the second quarter of this year, underscores the competitive race toward development of autonomous vehicles.

Read More at San Francisco Business Times

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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