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General Motors buys Cruise Automation

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General Motors has just bought Cruise Automation, an upstart from California that specializes in the development of software for self-driving vehicles. The automaker wants to be a leader in that field after signing a deal with Lyft and acquiring SideCar earlier this year.

In a statement, GM explained that Cruise Automation will operate as an independent unit within the recently formed Autonomous Vehicle Development Team led by Doug Parks, GM vice president of autonomous technology and vehicle execution. Its headquarters will remain in San Francisco.

Financial details of the transaction have not been disclosed.