DANA acquired Pi Innovo LLC, a transaction completed in March 2021, structured as Acquisition of the remaining ownership; Dana had previously held a non-controlling interest in Pi Innovo (initial stake taken in October 2020) before acquiring the full business..
Pi Innovo LLC operates in Electrification / e-Propulsion (software, controls, and electronics), is based in Plymouth, Michigan, United States. Dana acquired Pi Innovo LLC, a specialist in embedded software solutions and electronic control units (ECUs) serving the light-vehicle, commercial-vehicle, and off-highway markets. Pi Innovo designs and develops electronic systems and control software for automotive, transportation, defense, industrial, and aviation applications, taking vehicle electronic systems from concept to production. Dana had first taken a non-controlling stake in the company in late 2020 before acquiring the business outright. The deal expanded Dana's in-house electrodynamics and electrification capabilities, adding turn-key electric-vehicle application software, vehicle-level controllers, and auxiliary controllers.
Strengthen Dana's in-house e-propulsion software, controls, and electronics engineering capabilities and broaden its electrification product portfolio with a library of EV application software and vehicle controllers.
Advisory firms were not disclosed for this transaction.