Ford has acquired Livio, the tech startup based in Ferndale. The terms of the deal were not released.
Livio, formerly Livio Radio, got its start making Internet radios. It has since evolved to make software that enhances in-car connectivity between the vehicle and the electronics its passengers use. Ford plans to allow the startup to keep traveling down its current path, leaving its staff intact at its home in Ferndale.
“It’s a win not just for our staff but for entrepreneurs all over southeast Michigan,” says Jake Sigal, CEO of Livio.
He adds that his startup’s “plans haven’t changed” after the acquisition, which includes continuing its hiring. It currently has four positions open for software developers (more info on those positions here) on top of its staff of 11 employees, four independent contractors and a few interns.
Livio also plans to continue working to set the bar in its sector by developing new intellectual property and products. “I can guarantee we will always come out with new stuff,” Sigal says.
Source: Jake Sigal, CEO of Livio
Writer: Jon Zemke
Read more about Metro Detroit’s growing entrepreneurial ecosystem at SEMichiganStartup.com.