Get the latest tech news
NXP to buy automotive safety software firm TTTech Auto for $625M
NXP is to acquire TTTech Auto, a company specializing in safety software for autonomous vehicles, in an all-cash deal valued at $625 million.
Dutch semiconductor giant NXP on Tuesday said it plans to acquire TTTech Auto, an Austrian company specializing in safety software for autonomous vehicles, in an all-cash transaction valued at $625 million. So for example, if an automaker wants to implement or improve features such as adaptive cruise control or lane-keeping assist, TTTech Auto takes all the data from sources to ensure it’s processed with minimal latency to enable the car to steer safely. Just as Nvidia has emerged as one of the world’s most valuable companies off the back of the AI boom, NXP has been well positioned to capitalize on the automotive industry’s steady shift toward electrification and automation.
Or read this on TechCrunch