Bosch Acquires German Software Company "Innovations"

Move Will Strengthen IT Competence in the Field of Networked Systems

STUTTGART/IMMENSTAAD – September 8, 2008: Bosch has acquired the Innovations Softwaretechnologie GmbH, headquartered in Immenstaad am Bodensee, Germany. The purchase price was not disclosed. Innovations Softwaretechnologie GmbH, set up in 1997, develops software solutions for international clients from the finance and insurance sectors, as well as from others. In the area of so-called rules management systems, Innovations is technologically one of the world market leaders. With its software, commercial and technical processes can be mapped and transferred flexibly into software systems. Based on this technology, Innovations offers sector-specific solutions for innovative client management and process compliance to financial institutions. The company also designs and carries out complex technology projects.

In fiscal 2007/2008, Innovations generated sales of 11.2 million euros, an increase of 20 percent as compared to the previous year. The company currently employs 120 associates and opened a subsidiary company in Chicago, Illinois, in 2007. "Innovations is a technological forerunner in important fields. Together with its highly qualified and motivated associates, we want to expand the business and continue to grow," said Dr. Heinz Derenbach, member of the executive management of Bosch's Corporate Sector Information Systems and Services. "By acquiring Innovations, we can extend our competencies in the area of networked systems and service-oriented software."

Bosch plans to build up a competence center for software and systems that is meant to operate independently in the market and to carry out innovative software projects in cooperation with Bosch divisions. In Innovations Softwaretechnologie GmbH, Bosch has found a high-performance partner for the development of this new business field.