Continental Closes Acquisition of Elektrobit Automotive
- Purchase expands Continental’s software and systems expertise
- Approximately 1,900 outstanding software professionals strengthen development team
Hanover/Erlangen, July 1, 2015. The Continental Corporation has closed its acquisition of Elektrobit Automotive Group , formerly wholly owned by Finnish Elektrobit Corporation, Helsinki. The shareholders of Elektrobit Corporation approved the acquisition on June 11 and the relevant antitrust waiting periods expired at the end of June. With the purchase, the international automotive supplier, tire manufacturer, and industrial partner Continental is further expanding its systems and software expertise for solutions in the automotive industry. Elektrobit Automotive is a specialist in highly innovative software solutions.
At Elektrobit Automotive (including its joint venture company e.solutions GmbH), some 1,900 professionals develop powerful solutions for complex vehicle functions regulated by software, such as advanced driver assistance systems and infotainment systems, for leading carmakers and systems suppliers. With this acquisition, Continental is strengthening its development capacity and boosting its technology development of systems for automated driving. Continental currently employs 11,000 professionals in the field of software development.
