TOYOTA’S ACQUISITION

Toyota’s Woven Planet announced Tuesday that it has acquired Lyft’s self-driving division, Level 5, in a $550 million deal.

In a news release, the Toyota subsidiary said that the deal would “bring together world-class scientists and software engineers” from Woven Planet, Level 5 and Toyota’s own research division.

“The resulting combined ‘dream team’ of approximately 1,200 will represent one of the most diverse, well-resourced and talented groups in this field,” according to a statement by Woven Planet.