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NXP Accelerates the Transformation to Software-Defined Vehicles (SDV) with Agreement to Acquire TTTech Auto

GlobeNewswire LogoGlobeNewswire2w ago

NXP Accelerates the Transformation to Software-Defined Vehicles (SDV) with Agreement to Acquire TTTech Auto - GlobeNewswire

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NXP strengthens its automotive business with a leading software solution provider specialized in the systems, safety and security required for SDVsTTTech Auto complements and accelerates the NXP CoreRide platform, enabling automakers to reduce complexity, maximize system performance and shorten time to marketThe acquisition is the next milestone in NXP’s strategy to be the leader in intelligent edge systems in automotive and Industrial IoT EINDHOVEN, The Netherlands, Jan.07, 2025 (GLOBE NEWSWIRE) -- NXP Semiconductors N.V.(NASDAQ: NXPI), the worldwide leader in automotive processing and networking, announced today that it has entered into a definitive agreement to acquire TTTech Auto in an all-cash transaction valued at $625 million.

Our acquisition of TTTech Auto is the next big step in NXP’s journey to become the leading provider of intelligent edge systems in automotive and Industrial IoT.” "The emergence of intricately connected and adaptive frameworks in SDVs highlights the need for middleware to tackle challenges in integration, safety and scalability,” said Dirk Linzmeier, chief executive officer of TTTech Auto.

Together, MotionWise and NXP CoreRide empowers automakers with a robust SDV foundation, ensuring seamless coordination of diverse systems that help automakers deliver innovative features while maintaining reliability and safety at scale.” Stefan Poledna, chief technology officer and co-founder of TTTech Auto, added, "I could not be more excited for our team to join NXP.

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Article Details

Author / Journalist: NXP USA, Inc.

Category: Technology

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News Sentiment: Negative

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Article Type: News Report

Published On: 2025-01-07 @ 08:30:00 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: globenewswire.com

Language: English

Readers: 63 people read this story

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Sentences: 35 lines

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Copyright Owner: © GlobeNewswire

News ID: 24956172

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