BERN, Switzerland, Sept. 12, 2019 (GLOBE NEWSWIRE) -- WABCO Holdings Inc. (NYSE: WBC) (www.wabco-auto.com), the leading global supplier of braking control systems and other advanced technologies that improve the safety, efficiency and connectivity of commercial vehicles, has signed a three-year agreement to be an Anchor Partner with Plug and Play, a global innovation platform leader headquartered in Silicon Valley, U.S.
Under the agreement, WABCO will gain access to Plug and Play’s extensive global partnership network which includes many of the best startups, market disruptors and industry leaders, enabling the co-creation of advanced new solutions and joint innovation initiatives. The collaboration will also powerfully leverage Plug and Play’s proven innovation capabilities to support the advancement of WABCO’s Autonomous, Connected and Electric (ACE) vehicle and transport ecosystem technologies.
WABCO joins over 300 corporate partners from all over the world who are key to Plug and Play’s ongoing success, bringing together over 1,100 technology startups into the innovation process. The expansion of WABCO’s ACE portfolio will be a key focus as the company looks to rapidly grow its Internet of Things (IoT) and cloud-based technology capabilities to drive differentiated benefits for Original Equipment Manufacturers (OEMs), commercial vehicle fleets and transporters, globally.
WABCO will also participate in STARTUP AUTOBAHN, powered by Plug and Play, based in Stuttgart, Germany. Particularly important for WABCO’s European customers, including notable founding partner Daimler AG, STARTUP AUTOBAHN unites global young technology companies with the expertise of Silicon Valley and the best of German engineering.
“WABCO’s technology leadership in Advanced Driver Assistance Systems (ADAS), and advanced Fleet Management Systems, positions the company at the vanguard for advancing automated driving and fleet management for the commercial vehicles industry," said Dr. Christian Brenneke, WABCO Chief Technology Officer. “We continue to invest significantly in expanding WABCO’s digital offerings to include cloud-based IoT technologies, which, combined with advanced connectivity of vehicles and the ecosystem around them, will enable transport operators to make their operations even leaner, greener and safer."
As the transport world becomes increasingly complex against a backdrop of accelerating digital innovation, WABCO is extending its networks to tap into the potential of innovators worldwide. To help achieve this, WABCO will be an active contributor to Plug and Play’s deal flow sessions, organizing and participating in networking sessions and providing its expertise in the selection of startups that will be supported during their incubation period at the facility. A permanently hosted office in Plug and Play‘s Silicon Valley headquarters will be led by WABCO Global Head of Technology Scouting, Dr. Gandert Van Raemdonck.
“As a global technology leader, WABCO is embracing open-innovation as a key driver of our ongoing success," added Dr. Des O’Regan, WABCO Director of Product Innovation. “Our goal is to identify and work with startups, high growth and larger, established companies and multi-nationals, that can help accelerate our innovation pipeline and product offering.”
“We are incredibly proud here at Plug and Play to join forces with WABCO, one of the leading companies mobilizing vehicle intelligence," said Saeed Amidi, Plug and Play Founder and CEO. “Together we can evaluate new technologies and implement new ideas that will enhance safety during all stages of mobility, Smart City and Autonomous Vehicles on the road. It is companies like WABCO that help us implement new technology at the speed of startups and entrepreneurship."
About WABCO
WABCO (NYSE: WBC) is the leading global supplier of braking control systems and other advanced technologies that improve the safety, efficiency and connectivity of commercial vehicles. Originating from the Westinghouse Air Brake Company founded nearly 150 years ago, WABCO is powerfully “Mobilizing Vehicle Intelligence” to support the increasingly autonomous, connected and electric future of the commercial vehicle industry. WABCO continues to pioneer innovations to address key technology milestones in autonomous mobility and apply its extensive expertise to integrate the complex control and fail-safe systems required to efficiently and safely govern vehicle dynamics at every stage of a vehicle’s journey – on the highway, in the city and at the depot. Today, leading truck, bus and trailer brands worldwide rely on WABCO’s differentiating technologies. Powered by its vision for accident-free driving and greener transportation solutions, WABCO is also at the forefront of advanced fleet management systems and digital services that contribute to commercial fleet efficiency. In 2018, WABCO reported sales of over $3.8 billion and has more than 16,000 employees in 40 countries. For more information, visit www.wabco-auto.com.
About Plug and Play
Plug and Play is a global innovation platform. Headquartered in Silicon Valley, we have built accelerator programs, corporate innovation services and an in-house VC to make technological advancement progress faster than ever before. Since inception in 2006, our programs have expanded worldwide to include a presence in over 25 locations globally giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 10,000 startups and 300 official corporate partners, we have created the ultimate startup ecosystem in many industries. Companies in our community have raised over $7 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club and PayPal. For more information, visit www.plugandplaytechcenter.com.
WABCO Global Media Contacts
Nina Friedmann, +49 69 719 168 171, wabco@klenkhoursch.de
Susan Fisher, +1 248 260 9354, susan.fisher@wabco-auto.com