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.