Global law firm Dentons has advised CARIAD, the software company of the Volkswagen Group, on its acquisition of AI specialist, paragon semvox GmbH, a subsidiary of listed automotive supplier paragon. With the acquisition, CARIAD strengthens its competencies in the field of digital voice assistants based on artificial intelligence. The closing of the transaction is subject to antitrust approvals and is expected in spring 2023.
paragon semvox offers AI-based solutions for voice control and human-machine interactions and has been supplying the Volkswagen Group as its main customer for years. CARIAD is already working on a digital assistant to provide Volkswagen customers with a personalized digital experience in the car. After completion of the acquisition, paragon semvox GmbH will become a wholly owned subsidiary of CARIAD SE. Currently, more than 140 employees work at the semvox sites in Limbach and Nuremberg. All jobs will be retained.
CARIAD is an independent software company within the Volkswagen Group that bundles and further expands the group’s software competencies. Established in 2020 under the name Car.Software Organization, CARIAD today employs more than 5,000 experts working on a universal software platform for all Volkswagen Group brands, comprising an operating system, a standardized architecture and an automotive cloud.
A Dentons team led by partners Thomas Schubert and Dr. Florian Wiesner advised CARIAD on all legal aspects of the transaction. Dentons previously advised the company on its acquisition of the front camera software business of automotive supplier Hella, as well as on antitrust aspects in its acquisition of Intenta’s automotive business.
