firstVentury and Audi Strengthen TTTech for International Expansion
VIENNA, Austria--TTTech Computertechnik AG (“TTTech”), a high-tech European growth company and the leading supplier of products in the field of time-triggered systems, has announced a strengthening of the company for further international expansion. firstVentury, a strategic financial investor active in Europe and in the USA, led an investment of 20 million Euros. Additionally, AUDI AG, the renowned international automotive company, acquired a minority participation in TTTech.
With firstVentury and Audi, TTTech has won over two more prominent shareholder groups to strengthen the company’s structure for further international expansion. The firstVentury investment of 20 million Euros (about 25 million US dollars) considerably strengthens TTTech’s capital resources. The investment, together with TTTech’s long-term commercial production projects, will provide an exceptionally high growth potential.
firstVentury’s strategic investment is accompanied by a minority participation of AUDI AG. Audi is one of the world’s most successful providers of premium automobiles and has been one of TTTech‘s major customers since 2001. The majority of shares will still belong to the current shareholders.
“This further strengthening of the company will be a solid basis for the continuous development of TTTech from technology leader to market leader,” stated Georg Kopetz, company founder and Managing Director at TTTech. “In a way that is reminiscent of SAP, TTTech has the potential to become a first-class European growth company with worldwide impact. We are pleased to join the present shareholders and AUDI AG in their support for TTTech on its way to further international expansion,” commented Niall Davis, firstVentury partner.
Co-developed by TTTech, time-triggered technology improves the interaction of electronic networks and increases their reliability in industrial applications, including steering and braking systems in airplanes and automobiles. Often referred to as networked embedded systems, such control systems are currently among the fastest growing markets in information technology.
Today, European and North American market leaders use TTTech’s time-triggered products in systems that have entered commercial production in the automotive, aerospace and off-highway industries. The time-triggered technology is a proven and certifiable technology platform that also enables innovative solutions in medical and power engineering, as well as a wide range of industrial control applications.
TTTech evolved from its origins as a spin-off of the Vienna University of Technology in 1998, and has become a well-established global technology leader. Among the key factors that propelled TTTech’s successful and profitable development is its close cooperation with many highly innovative, dynamic, multinational companies. The company’s involvement with a broad variety of important industries points to an exceptionally high innovation potential.
About TTTech Computertechnik AG
TTTech Computertechnik AG is the leading supplier of technology and software products in the field of time-triggered systems and TTP® (Time-Triggered Protocol). TTTech products enable developers of automotive, aerospace, off-highway and industrial control equipment to deliver reliable embedded systems quickly and efficiently. TTTech’s products comprise a complete software development environment for TTP-based systems, including hardware as well as TTP chip models. In addition, TTTech provides a broad range of services, from training courses on time-triggered technology to worldwide product and project support. The automotive industry is covered by the TTTech subsidiary TTAutomotive, which is a Premium Associate Member in the FlexRay™ and AUTOSAR™ standardization initiatives. TTAutomotive especially emphasizes by-wire systems, integrated vehicle control systems, and driver assistance systems. TTTech currently has 150 employees and seven business locations worldwide.
Further information on TTTech is available at www.tttech.com.
About firstVentury
firstVentury was established in 2000. With the support of SAP founder Klaus Tschira, firstVentury has become a leading venture capital advisory company in Germany. Advising investors and funds in Switzerland and Germany, as well as the Luxembourg SICAR Aeris Technology Investment Company SA, firstVentury manages investments in high-tech companies which have the potential to scale into international markets. The main investment focus is on converging technologies which combine innovations in life sciences/medical engineering with information technology. To date, firstVentury has managed a portfolio of 16 companies. Historically, firstVentury seeks to assist its portfolio companies in a transatlantic enterprise building strategy. The company draws on its office in San Francisco, as well as personal networks and business connections, to support its portfolio companies as they expand into the important US market.
Further information on firstVentury is available at www.firstventury.com.