NXP's Strategic Acquisition of TTTech Auto
Deal News | Jan 15, 2025 | CEE Legal Matters
NXP has embarked on a significant acquisition of TTTech Auto in a transaction valued at $625 million, subject to regulatory approval. The acquisition is set to expand NXP's automotive portfolio by integrating TTTech Auto's management, intellectual property, and 1,100 engineering staff. Positioned as a prominent player in automotive processing and networking, NXP aims to project TTTech Auto under its brand while retaining its unique specialization in systems, safety, and security software—complementing NXP's CoreRide platform. Legal advising for this acquisition involved key industry players including Schoenherr and Skadden advising NXP, Freshfields Bruckhaus Derringer for TTTech's majority owners Audi, Aptiv, and Infineon, and Binder Groesswang along with Clifford Chance for Aptiv. This acquisition reflects a strategic move by NXP to fortify its capabilities in simplifying system performance for automakers, shortening development timeframes, and expanding its global influence.
Sectors
- Automotive Technology
- Legal Advisory
Geography
- Austria – TTTech Auto, the target company in the acquisition, is based in Vienna, Austria.
- Germany – The majority owners of TTTech Auto, including Audi and Infineon are German companies involved in the sale.
- United States – NXP is a global semiconductor company with significant operations in the United States, and the acquisition signifies an international transaction.
Industry
- Automotive Technology – The acquisition is directly related to automotive technology as both NXP and TTTech Auto specialize in automotive processing, networking, and software solutions.
- Legal Advisory – Involvement of prominent legal firms such as Schoenherr, Freshfields, and Binder Groesswang in facilitating the acquisition underscores the relevance of legal advisory in the transaction.
Financials
- USD 625 million – The entire transaction for acquiring TTTech Auto is valued at USD 625 million.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| NXP | Bidding Company | Company | NXP is the company acquiring TTTech Auto to expand its automotive portfolio in processing and networking. |
| TTTech Auto | Target Company | Company | TTTech Auto, based in Vienna, specializes in automotive software solutions. |
| Schoenherr | Legal Advisor | Company | Schoenherr acted as a legal advisor for NXP in the acquisition. |
| Freshfields Bruckhaus Derringer | Legal Advisor | Company | Freshfields provided legal advice to TTTech Auto's majority owners during the sale. |
| Binder Groesswang | Legal Advisor | Company | Advised Aptiv alongside Clifford Chance's Munich office for the acquisition. |
| Audi | Selling Company | Company | Audi is one of the majority owners of TTTech Auto and participated in the sale. |
| Aptiv | Selling Company | Company | Aptiv, another majority owner, also took part in the sale and was advised by Binder Groesswang. |
| Infineon | Selling Company | Company | Infineon, along with Audi and Aptiv, is a major owner selling its stake in TTTech Auto. |