NXP to acquire TTTech Auto for $625m.

NXP, a Dutch semiconductor designer and manufacturer, agreed to acquire TTTech Auto, an automated driving software and hardware provider, for $625m. “This acquisition combines NXP’s automotive portfolio with a leading global player in safety software solutions. The inclusion of TTTech Auto’s software into the NXP CoreRide solution further strengthens NXP’s automotive value proposition and accelerates the automotive industry’s transformation to software-defined vehicles. NXP CoreRide enables automakers to deploy their best-in-class, differentiated vehicle platforms more efficiently, faster, and safely. Our acquisition of TTTech Auto is the next big step in NXP’s journey to become the leading provider of intelligent edge systems in automotive and Industrial IoT,” Jens Hinrichsen, NXP Executive Vice President.