TTTech Auto Acquires Turkish Automotive Company Red Pine Software.
M2 EQUITYBITES-January 13, 2020-TTTech Auto Acquires Turkish Automotive Company Red Pine Software
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13 January 2020 - Austria-based safety software company TTTech Auto, supporting automated driving, has acquires the Turkish software company Red Pine Software, a specialist in the field of advanced driver assistance, the company said.
Terms of the transaction were not disclosed.
TTTech Auto continues its growth strategy with this acquisition and increases its software development capacities for Advanced Driver Assistance Systems and Automated Driving series development projects featuring its flagship product MotionWise.
Red Pine and its 60 employees are experts in automotive embedded software engineering with a focus on ADAS. The acquisition became effective as of January 1, 2020.
The acquisition of Red Pine Software expands TTTech Auto's footprint from the CEE to Ismir in the Aegean region and represents another key step in its overall growth strategy.
With the previous acquisitions of RT-RK Automotive in Serbia, Croatia and Bosnia-Herzegovina and Silicon Gears in Spain.
TTTech Auto provides solutions for the challenges of future vehicle generations. The company specialises in safe software and hardware platforms for automated driving and beyond, applicable in series production programmes.
With our leading technology solutions, we ensure safety and electronic robustness for a more automated world. TTTech Auto operates under the umbrella of the TTTech Group.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Jan 13, 2020|
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