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Chipmaker NXP to buy Austria's TTTech Auto for $625 mln
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Chipmaker NXP to buy Austria's TTTech Auto for $625 mln
Jan 7, 2025 12:58 AM

AMSTERDAM, Jan 7 (Reuters) - Dutch computer chip maker

NXP said on Tuesday it has agreed to buy Austria's TTTech Auto

for $625 million, to strengthen its automotive operations.

NXP is the biggest maker of chips for cars, while TTTech

Auto makes safety-focused 'middleware' - software that helps a

car's operating system integrate with applications, and roll out

updates, while ensuring that critical functions are not

affected.

This acquisition combines NXP's automotive portfolio with a

leading global player in safety software solutions," said NXP

executive Jens Hinrichsen in a statement.

The company said the move was aimed at strengthening NXP's

offerings as its carmaker customers increasingly view software,

rather than hardware, as determining a vehicle's design.

Hinrichsen, the general manager of automotive embedded

systems at NXP, said the buy would help the company become the

"leading provider of intelligent edge systems" in cars.

If the all-cash deal is approved, Vienna-based TTTech, its

management and 1,100 employees will join NXP's automotive arm.

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