Chipmaker NXP to buy Austria's TTTech Auto for $625 million


Workers prepare an exhibit house for NXP at CES 2025, an annual consumer electronics trade show, in Las Vegas, Nevada, U.S. January 5, 2025. REUTERS/Steve Marcus

AMSTERDAM (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.

(Reporting by Toby Sterling, Editing by Louise Heavens)

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Tech News

Musk launches ‘scary smart’ AI chatbot
Capgemini posts 2% sales dip, but beats estimates aided by AI demand
DeepSeek in running to power China weather agency’s forecasts
OpenAI weighs special voting rights to guard against hostile takeovers, FT reports
Yahoo News signs up influencers with promise of shared advertising sales
Mexico awaits new response from Google on dispute over Gulf of Mexico name before filing lawsuit
China’s Tencent says trialling own AI reasoning model alongside DeepSeek
Samsung Electronics nominates chip execs as new board members
Apple’s long-promised AI overhaul for Siri runs into bugs, possible delays
'Astro Bot' on PlayStation: Jump 'n' run through the universe

Others Also Read