Dutch semiconductor giant NXP announced on Tuesday that it plans to acquire TTTech Auto, an Austrian company specializing in safety software for self-driving cars, in an all-cash deal valued at $625 million.
TTTech Auto was spun out from TTTech Group in 2018 with approximately $78 million in backing from AUDI, Samsung, GE Ventures and others. The company raised another $285 million in 2022, with Aptiv leading the Series C round.
TTTech Auto is collaborating with the automotive industry to further expand into the realm of software-defined vehicles, including semi- and fully automated. The company's flagship product, MotionWise, is a middleware platform for advanced driver assistance systems (ADAS) and autonomous driving systems (ADS). It provides real-time data processing and ensures data flow between the various control systems in the vehicle, such as cameras, radars, actuators, and control units. Supports the integration of software from multiple suppliers. And we ensure everything meets functional safety compliance standards.
For example, if a car manufacturer wants to implement or improve features such as adaptive cruise control or lane-keeping assist, TTTech Auto can pull all the data from the source and process it with minimal delay to help the car maneuver safely. Masu.
chips with anything in it
Just as Nvidia has emerged as one of the world's most valuable companies on the back of the AI boom, NXP is well-positioned to take advantage of the auto industry's steady shift to electrification and automation. Its market value has doubled in the past five years to $54 billion.
There are clear synergies between NXP and TTTech Auto. NXP was spun off from Philips in 2006 and specializes in automation semiconductors for various industries. For automotive applications, we provide chips for sensors and cameras essential to core ADAS functions such as lane assist, automatic braking, and adaptive cruise control. And last March, NXP launched CoreRide, a platform that helps automakers transition to software-defined vehicles (SDVs), with TTTech Auto joining as its first software partner.
Although the transaction still requires regulatory approval, TTTech Auto's entire management team and engineering staff will join NXP and operate under the NXP brand.