NXP has completed its acquisition of TTTech Auto. The Austrian company specializes in self-driving cars and will enable the Dutch chipmaker to better respond to future developments. The deal was announced in January and has now been finalized.
The acquisition of TTTech Auto is NXP’s third acquisition in a short period of time. Earlier this year, the company acquired Kinara for €297 million. NXP also purchased Aviva Links for €235.5 million. With the TTTech acquisition, approximately 1,100 employees will join NXP.
Platform for the future
NXP’s CoreRide technology and TTTech Auto’s software platform will enable car manufacturers to significantly simplify their development process. The combined offering will help remove barriers between software and hardware, reducing complexity and saving costs for future generations of cars.
TTTech Auto will continue to operate as an independent player in the market. The company works with various chip manufacturers, car manufacturers, and software partners. This neutrality should ensure the further development of software-defined vehicle technology. However, it remains to be seen whether NXP’s competitors will trust the distance between the parent and subsidiary companies enough to join forces in the same way.
However, NXP is struggling with disappointing figures in general. In April, CEO Kurt Sievers announced his departure after having been at the helm of the company since 2020. Prior to that, he had been a member of the NXP board since 2009. Sievers was also present at TSMC’s recent Technology Symposium in Amsterdam, where he explained how the automotive chip player is utilizing increasingly smaller chip processes. We have discussed exactly which processes these are in detail below:
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