Dutch semiconductor giant NXP tuesday said Plan to achieve it TTTech AutoAn Austrian company specializing in safety software for autonomous vehicles, in a cash transaction valued at $625 million.
TTTech Auto spins out of the TTTech Group In 2018With about $78 million in backing from the likes of AUDI, Samsung and GE Ventures. Company raising another $285 million In 2022, with apt His Series C leads the round.
TTTech Auto works with the automotive industry as it pushes further into software-defined vehicles, including semi- and full-automation. Its flagship product, MotionwiseA middleware platform for advanced driver-assistance systems (ADAS) and automated driving systems (ADS). It provides real-time data processing to ensure data flow between various control systems within the vehicle such as cameras, radars, actuators and control units; supports integration of software from multiple suppliers; and ensures that it meets all applicable safety compliance standards.
So for example, if an automaker wants to implement or improve features like adaptive cruise control or the like Lane-Keeping AssistTTTech Auto takes all data from the source to ensure it is processed with minimum latency to enable the vehicle to drive safely.
Chips with everything
Just as Nvidia has emerged as one of these The most valuable company in the world On the back of the AI boom, NXP is well positioned to capitalize on the automotive industry's steady shift toward electrification and automation. Its market value has doubled over the past five years to $54 billion.
NXP, which spun off from Philips Back in 2006Semiconductor specialist for automation in various industries. For automobiles, it provides chips for sensors and cameras that are critical for ADAS features including lane assist, automatic braking and adaptive cruise control. Last March, NXP on CoreRide, a platform that helps automakers transition to software-defined vehicles (SDV), joins TTTech Auto as an inaugural software partner.
There are clear synergies between NXP and TTTech Auto. While the transaction is still subject to regulatory approval, the entire TTTech Auto management team and engineering staff will join NXP and operate under the NXP brand.