The move is part of the latest investment round for TTTech. Besides Infineon, also General Electric (GE) is now funding the company. While Infineon spends €7 million, GE invests €8 million. The lion's share of the total investment amount of € 50 million will be shouldered by the existing shareholders, with carmaker Audi being the largest one.
TTTech's development efforts focus on robust networked computer control systems, in particular for automotive, off-highways, aerospace and energy applications. The company's hardware and software solutions are based on Deterministic Ethernet. Examples are a platform for the Boeing 787, the NASA Orion spacecraft and a number of various models of the Volkswagen Group of which Audi is a subsidiary.
The company said it intends to use the proceeds to accelerate growth with safety-certified solutions as well as enable new value propositions and global support for its customers in the Industrial Internet of Things. In addition, the Austrians plan to engage into the future-prone market for autonomous driving.
GE is interested in the Austrian company for its competency in industrial real-time networking technology. "TTTech's deterministic networking and safety control technology have the potential to extend the reach of the Industrial Internet", explains Bernie Anger, General Manager at GE Intelligent Platforms. Infineon's interest in the 400-headcount technology company is motivated similarly. "We are convinced that TTTech's safety and robust networking technology play an important role in advanced automotive products such as the highly integrated platform control units on the way towards autonomous driving", said Jochen Hanebeck, President Automotive Solutions at Infineon.