According to ETAS CEO Friedhelm Pickard, Escrypt is the leading systems integrator and service provider for embedded security. Besides the automotive industry these solutions also are used in medical, industry automation, machinery and semiconductor industries. The takeover strengthens ETAS' activities in its globally active embedded security consulting business which has been launched in the first quarter of 2012. ETAS also plans expand its activities in the Functional Safety segment.
For Escrpyt, the acquisition translates into entering the next level of international activities, said Christof Paar, one of the two general managers of Escrypt. Paar also holds the chair for embedded security at the Ruhr university in Bochum. The company actually is a spin-off of this university; it has been launched in 2003. Escrypt runs subsidiaries in Munich, Wolfsburg (the seat of Volkswagen) and in Ann Arbor (USA).
The acquisition is subject to antitrust approval. The financial terms were not disclosed.