NXP acquires Austrian company TTTech Auto to accelerate transformation to Software-Defined Vehicles (SDV)

NXP Semiconductors, worldwide leader in automotive processing and networking, announced that it has entered into a definitive agreement to acquire TTTech Auto in an all-cash transaction valued at $625 million.

TTTech Auto, based in Vienna, Austria, is a leader in innovating safety-critical systems and middleware for software-defined vehicles (SDVs).

Pending regulatory approvals, TTTech Auto including its management team, intellectual property, assets, and approximately 1,100 engineering staff will join NXPs automotive team. As part of NXP, TTTech Auto will continue to serve existing customers and expand its global footprint under the NXP brand.

“This acquisition combines NXP’s automotive portfolio with a leading global player in safety software solutions. The inclusion of TTTech Auto’s software into the NXP CoreRide solution further strengthens NXP’s automotive value proposition and accelerates the automotive industry’s transformation to software-defined vehicles. NXP CoreRide enables automakers to deploy their best-in-class, differentiated vehicle platforms more efficiently, faster, and safely. 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.” – Jens Hinrichsen, executive vice president and general manager of analog & automotive embedded systems at NXP Semiconductors

“The emergence of intricately connected and adaptive frameworks in SDVs highlights the need for middleware to tackle challenges in integration, safety and scalability. NXP and TTTech Auto both clearly recognize this need and share the same vision for SDV transformation. 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.” – Dirk Linzmeier, chief executive officer of TTTech Auto

“I could not be more excited for our team to join NXP. Together, we are perfectly situated to engage with OEM and Tier one players throughout their system design process.” – Stefan Poledna, chief technology officer and co-founder of TTTech Auto