Corporate | 1 July 2015 13:53
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Continental AG / Key word(s): Acquisition
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.
Continental develops intelligent technologies for transporting people and their goods. As a reliable partner, the international automotive supplier, tire manufacturer, and industrial partner provides sustainable, safe, comfortable, individual, and affordable solutions. In 2014, the corporation generated sales of approximately EUR34.5 billion with its five divisions, Chassis & Safety, Interior, Powertrain, Tires, and ContiTech. Continental currently employs approximately 200,000 people in 53 countries.
Contact for Journalists
Hannes Boekhoff
Links
Press Portal: www.continental-press.com
2015-07-01 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
| Language: | English | |
| Company: | Continental AG | |
| Vahrenwalder Straße 9 | ||
| 30165 Hannover | ||
| Germany | ||
| Phone: | +49 (0)511 938-1068 | |
| Fax: | +49 (0)511 938-1080 | |
| E-mail: | ir@conti.de | |
| Internet: | www.conti.de | |
| ISIN: | DE0005439004 | |
| WKN: | 543900 | |
| Indices: | DAX | |
| Listed: | Regulated Market in Frankfurt (Prime Standard), Hamburg, Hanover, Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Munich; Terminbörse EUREX; Luxemburg, SIX | |
| End of News | DGAP News-Service |
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