NXP acquires TTTech Auto, an Austrian automotive middleware company
Chip manufacturer NXP acquires TTTech Auto, a specialist in automotive software. NXP is thus focusing on the "Software Defined Vehicle".
This is how NXP symbolizes software-defined vehicles.
(Image: NXP)
The Dutch chip manufacturer NXP is acquiring the Austrian company TTTech Auto AG for a purchase price of 625 million US dollars. That was announced by NXP on Tuesday. TTTech Auto supplies software to vehicle manufacturers and specializes in middleware. "TTTech Auto complements NXP's hardware expertise," the press release states.
The aim is to jointly develop a platform on the basis of which car manufacturers can build software-defined vehicles (SDVs). With the takeover, TTTech Auto's 1,100 developers will also move to NXP. The announcement is silent regarding the fate of other employees. There are offices in Germany (Ingolstadt and Munich), Bosnia, the People's Republic of China, Croatia, Serbia, Spain, South Korea and Turkey. TTTech Autos's headquarters are located next to the Vienna University of Technology. No surprise there: TTTech, hitherto the parent company of TTTech Auto, is a spinoff of the university.
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