VI-grade has announced the acquisition of 100% of the outstanding shares of Concurrent Real-Time (CRT), a provider of real-time computational hardware and software systems, as part of its strategy to enhance and grow its vehicle simulator platform businesses and fully integrate Hardware-in-the-Loop (HiL) technology. CRT has been acquired from Battery Ventures, a Boston-based PE firm, for US$166.7 million (£121.2 million) in cash. The acquisition is expected to close in Q2 2021, pending regulatory review and approvals.
CRT, based in Florida, is a developer and supplier of hard real-time operating systems, software and hardware that delivers simulation and control platforms for a wide range of automotive and aerospace applications. As such, VI-grade has recognised that CRT shares a number of its end-markets, in which customers require low-latency real-time solutions involving software-in-the-loop (SiL), hardware-in-the-loop (HiL), and people-in-the-loop (PiL).
VI-grade intends for the combination of the two businesses to build on its position in the simulation software and simulator market by enhancing its capabilities, broadening its product portfolio, and improving its delivery capability and market reach. CRT has approximately 115 employees spread across the USA, Japan, China and Europe.