TTTech Auto, a provider of safety software platforms for automated driving and beyond, acquired Turkish automotive software company Red Pine Software.
The amount of the deal was not disclosed.
The acquisition aims to increase TTTech Auto’s software development capacities for Advanced Driver Assistance Systems (ADAS) and Automated Driving (AD) series development projects featuring its flagship product MotionWise. It also expands its presence from the CEE to Izmir 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 as well as its overall fast-paced growth, TTTech Auto has doubled its workforce over the last two years.
Led by Cem Sezer, founder and CEO, Red Pine Software is an expert in the field of Advanced Driver Assistance The company has 60 employees, who are experts in automotive embedded software engineering with a focus on ADAS.
Led by Georg Kopetz, CEO, TTTech Auto specializes in safe software and hardware platforms for automated driving and beyond, applicable in series production programs. The company operates under the umbrella of the TTTech Group, a technology leader in networking and safety controls, with cross-industry experience from more than 20 years of operation. The TTTech Group is headquartered in Vienna, Austria and also present in several locations in Europe, the United States and Asia.
FinSMEs
08/01/2020