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New Deal


Announced

Microsoft lead a $2.75bn investment round in Cruise.

Financials

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Transaction Value£2,026m
Consideration TypeCash
Capital Owned-
Capital Bid For9%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Pending

Friendly

Auto Technology

Private

United States

Domestic

Single Bidder

Acquisition

Venture Capital

Minority

self-driving vehicles

Synopsis

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Microsoft lead a $2.75bn investment round in Cruise, an autonomous vehicle company, with participation from Honda, General Motors and Walmart. "Our mission to bring safer, better and more affordable transportation to everyone isn't just a tech race – it's also a trust race. Microsoft, as the gold standard in the trustworthy democratization of technology, will be a force multiplier for us as we commercialize our fleet of self-driving, all-electric, shared vehicles," Dan Ammann, Cruise CEO. On April 15, 2021, Cruise announced that Walmart and several other institutional investors joined the funding round and increased total capital raised to $2.75bn from $2bn.

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