VIENNA, Austria & IZMIR, Turkey--(BUSINESS WIRE)--Jan 7, 2020--
TTTech Auto, a global leader in safety software platforms for automated driving and beyond, acquires the Turkish software company Red Pine Software. TTTech Auto continues its growth strategy with this acquisition and increases its software development capacities for Advanced Driver Assistance Systems (ADAS) and Automated Driving (AD) series development projects featuring its flagship product MotionWise. Red Pine and its 60 employees are experts in automotive embedded software engineering with a focus on ADAS. The acquisition became effective as of January 1, 2020.
“We are welcoming the Red Pine team to join forces for our rapidly growing ADAS/AD business. This will support the growth and the leading position of TTTech Auto in the safety software platform market in the next years,” says Georg Kopetz, CEO of TTTech Auto.
“We are looking forward to becoming part of TTTech Auto and shape the future of automated driving with safety software solutions”, says Cem Sezer, the founder and CEO of Red Pine. “TTTech Auto’s global market position and its partner ecosystem will allow us to contribute to the most demanding and state-of-the-art projects in the automotive industry at this time.”
Cem Sezer founded Red Pine Software in 2017 around a core team of experts with each more than 10 years of industry experience. Turkey has ranked 30* globally for the best developers worldwide right after the US and the UK, making it an ideal site to attract these talents.
“The CEE region and especially the tech hub Izmir have built up an excellent base of embedded software developers, which motivates us to strategically grow our business in this area. Based on our already well-established cooperation, we know Red Pine as an exemplary tech company with experienced employees and great growth potential”, says Milenko Beric, Senior Vice President Finance CP&E & General Manager of Sites CEE at TTTech Auto.
The acquisition of Red Pine Software expands TTTech Auto’s strong footprint from the CEE to Izmir in the Aegean region and represents another key step in its overall growth strategy. With the previous acquisitions of RT-RK Automotive in Serbia, Croatia and Bosnia–Herzegovina and Silicon Gears in Spain as well as its overall fast-paced growth, TTTech Auto has doubled its workforce over the last two years. These talents now have access to TTTech Auto’s rich partner ecosystem and contribute to the numerous projects with industry leaders. TTTech Group will exceed the 2,000-employee mark in 2020.
- Portrait Georg Kopetz, CEO TTTech Auto (2.7 MB) - https://www.tttech-auto.com/wp-content/uploads/Georg-Kopetz—CEO—TTTech-Auto—portrait—detail.jpg
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About TTTech Auto
TTTech Auto provides solutions for the challenges of future vehicle generations. The company specializes in safe software and hardware platforms for automated driving and beyond, applicable in series production programs. With our leading technology solutions, we ensure safety and electronic robustness for a more automated world.
TTTech Auto operates under the umbrella of the TTTech Group, a technology leader in robust networking and safety controls, with cross-industry experience from more than 20 years of operation. The TTTech Group is headquartered in Vienna, Austria and also present in several locations in Europe, the United States and Asia. www.tttech-auto.com
*According to HackerRank, reported by the Washington Post and Business Insider: https://blog.hackerrank.com/which-country-would-win-in-the-programming-olympics/
View source version on businesswire.com:https://www.businesswire.com/news/home/20200107005873/en/
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KEYWORD: SWITZERLAND EUROPE GERMANY AUSTRIA TURKEY
INDUSTRY KEYWORD: HARDWARE OTHER AUTOMOTIVE TECHNOLOGY AUTOMOTIVE SOFTWARE
SOURCE: TTTech Auto
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PUB: 01/07/2020 11:42 AM/DISC: 01/07/2020 11:42 AM