NXP Semiconductors is powering up its software-defined vehicles (SDV) offerings by purchasing Austria's TTTech Auto.
NXP Acquires TTTech. Source: NXP
BREAKING NEWS
By Bolaji Ojo
NXP Semiconductor N.V. said it has struck a deal to purchase TTTech Auto, agreeing to pay $625 million for the Vienna-based company in a bid to strengthen its offerings in the areas of Software-Defined Vehicles (SDV).
The transaction, which NXP announced today at the Consumer Electronics Show (CES), is a game-changer for the company, giving it accelerated inroad into partnerships with automakers developing SDV solutions. TTTech has deep relationships with automakers already, and it is expected that NXP will piggyback on these to further its own engagement with the transportation OEMs.