Eric D. Lawrence Detroit Free Press Published 9:51 p.m. UTC Aug 1, 2018 Magneti Marelli, a components business that is part of Fiat Chrysler Automobiles, plans to acquire a French startup focused on self-driving car technology. A company news release said Wednesday that Magnetti Marelli, a supplier of electronics, automotive lighting and powertrains with about 43,000 employees, had signed an agreement to acquire all shares of StartMeUp, with closing expected in the last quarter of this year. StartMeUp develops software that “will be a key enabler for autonomous vehicle.” It is used for “processing sensor’s signals, detecting and recognizing objects around the vehicle, allowing 3D environment building and object movement tracking,” the release said. The deal adds another piece to Magneti Marelli’s self-driving technology efforts, which include a stake in LeddarTech to develop lidar systems. Read more: Michigan memorial service is set for Fiat Chrysler’s Sergio Marchionne Sergio Marchionne, who saved Chrysler and Fiat, dies at 66 Is Tesla’s Elon Musk wrong about this key self-driving technology? FCA did not release financial details of the agreement. The company has been working on a spin-off of Magneti Marelli, and Reuters reported last month that initial plans are to register it in the Netherlands and list it on the Milan stock exchange. The news service, citing analysts, said the standalone entity could be worth between $4.2 billion and $5.8 billion (3.6 billion and 5 billion euros). Contact Eric D. Lawrence: [email protected] Follow him on Twitter: @_ericdlawrence.